July 9, 2021 – Andrew O’Connell, Anthony Spangler and Dan Tilsner of Horvath & Tremblay have successfully completed the sale of a twenty-one (21) unit multi-family portfolio in East Chicago, Indiana. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $875,000.
The multi-family investment portfolio is located in East Chicago, Indiana. The three property Portfolio is positioned along Columbus Drive, the city’s primary commercial thoroughfare. In total, the Portfolio consists of 21 units made up of seventeen (17), 2-Bedroom/1-Bathroom units, two (2), 1-Bedroom/1-Bathroom units, one (1), 3-Bedroom/1-Bathroom unit and one commercial unit. The East Chicago Portfolio represents the rare opportunity to acquire a portfolio of co-located, value-add, multi-family properties in a supply-constrained rental market. The Properties consist of brick-masonry buildings that are easy to manage. Tenants are responsible for their own separately metered electricity while the Landlord is responsible for heat, hot water, and the municipal water and sewer bill. The properties are located in East Chicago, Indiana which is a Southeast Suburb of Chicago located directly off of two major roadways (I-90 and US Route 20) and is just seconds from the Indiana Harbor and Lake Michigan. The property is less 3.5-miles from the South Shore Line for quick, direct access to Chicago, South Bend, and the surrounding areas. Additionally, tenants are within walking distance to local area amenities with numerous restaurants, bars, and shopping along Columbus Drive, Indianapolis Boulevard, and Euclid Avenue.
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.