January 15, 2020 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of the Crestline Villa Apartments in Alsip, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $12,240,000, which translates to a 6.89% Cap Rate.
The Crestline Villa Apartments, located at 4209 West 115th Street in Alsip, Illinois, consists of one hundred forty-four (144) apartment units. Constructed in 1975, Crestline Villa is comprised of twelve (12) garden-style brick buildings with twelve (12) units in each. The complex has a good unit mix with forty-eight (48) one-bedroom, one-bathroom units and ninety-six (96) two-bedroom, one-bathroom units. The complex, which has been well maintained, offers individual patios for each unit, ample green space, on-site parking and a laundry facility in each building. Crestline Villa is fifteen miles southwest of the Chicago Loop and eight miles south of Midway Airport with convenient access to I-57 and I-294. The property is also located across from the town High School and is walkable to local bus service and 3.5 miles from the 115th Street Metra Station.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.