July 12, 2021 – Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of the Countryside Apartments in Countryside, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $6,200,000.
The Countryside Apartments is a 54-unit garden style apartment complex located at 6300-6360 Joliet Road in Countryside, Illinois. The property was built in 1975 consisting of thirty (30), 1-Bedroom/1-Bathroom units of +/-650 square feet each, and twenty-four (24), 2-Bedroom/1-Bathroom units of +/-800 square feet each. In total, the complex consists of three (3), three-story residential buildings (two, 12-unit buildings and one, 30-unit building) containing +/-38,700 square feet of livable area (50,000 gross square feet) on a 2.2-acre corner parcel. The buildings have a poured concrete foundation with a brick exterior and pitched shingle roofs (all of which have been replaced within the last 2 years). The property features balconies, in-building washers and dryers, mature trees and shrubs, and professionally landscaped grounds. The complex also abuts the Sundown Meadow Nature Preserve, which includes the Arie Crown Forest, Theodore Stone Forest, walking trails, picnic areas and Lake Ida. The property is located in Countryside, Illinois, which is a Southwest Suburb of Chicago located directly off of two major highways I-55 and I-294 and is located along Joliet Road (Historic U.S. 66). The property is 3-miles from the La Grange Metra Station for quick, direct access to Chicago and the surrounding areas. Tenants are within walking distance to local area amenities including the Quarry Shopping Center (Anchored by Target and Sam’s Club) and Countryside Plaza (anchored by Home Depot and Best Buy) as well as numerous restaurants, bars, and shopping along Joliet Road.
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.