April 29, 2021 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twenty-four (24) multi-family units in Alsip, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,160,000.
The multi-family investment property, located at 4310 & 4329 W Park Lane Drive in Alsip, Illinois. This is a two-building multi-family portfolio consisting of twenty-four (24) apartments. Both building are nearly identical and have twelve units each. The desirable unit mix consists of six (6), 3-Bedroom/1.5-Bathroom units, six (6), 2-Bedroom/1.5-Bathroom units, six (6), 2-Bedroom/1-Bathroom units, and six (6), 1-Bedroom/1-Bathroom units in 25,620 square feet of living area on 0.72 acres of land with forty-eight tenant parking spaces. The property is located in a beautiful residential neighborhood comprised mainly of similar, well-kept multi-family buildings. The Street is adjacent to the Apollo Recreation Center and Park, and the Burr Oak Cemetery, ensuring limited future development and maintaining a quiet setting. The property is less than 1-mile from Cicero Avenue, the area’s primary commercial corridor, offering numerous restaurants, shopping, and entertainment venues. Additionally, the property is just 1.6-miles from the Rivercrest Chopping Center, which is home to Target, Kohl’s, AMC Crestwood, and numerous restaurants. A Walmart and Starbucks are also located just across the street from Rivercrest. The property is located in suburban Alsip, 15 miles southwest of the Chicago Loop and 8 miles south of Midway Airport, with convenient access to I-294 (Tri-State Tollway) and I-57. The Property is also walkable to local bus service and is 3-miles from both the Prairie Street Metra Station and the Blue Island Metra Station, which provides service on both the RI Line and the ME Line.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. 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.