May 27, 2021 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twelve (12) multi-family units in Lansing, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $840,000.
The multi-family investment property is located at 3050 178th Street in Lansing, Illinois, and is comprised of twelve (12) multi-family units. The three-story brick apartment building was constructed in 1971 and is located adjacent to the corner of Rosewood Drive and 176th Place in a densely populated residential neighborhood. The property contains eight (8) 2-Bedroom/1-Bathroom units and four (4) 1-Bedroom/1-Bathroom units in 9,600 square feet of livable space. The property is in a desirable, densely populated residential neighborhood positioned in between Torrence Avenue and Calumet Avenue, both of which are lined with a variety of retail and dining options. The local Target, Walmart, Jewel-Osco, ALDI, and Walgreens are all within two and one half-miles of the building. The area is also surrounded by numerous recreational parks, golf courses, forest preserves, and nature trails. The property benefits from strong demographics with more than 93,000 people living within a 3-mile radius of the property with an average household income in excess of $69,800.
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.