February 7, 2022 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of nine (9) multi-family units in Lansing, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $795,000.
The multi-family investment property, located at 6050 Bernice Road in Lansing, Illinois, is comprised of nine (9) multi-family units. The three-story apartment building was constructed in 1969 and contains six (6) 2-Bedroom/1-Bathroom units and three (3) 1-Bedroom/1-Bathroom units with 8,100 square feet of living area, in 9,000 square feet of gross area, on a 0.4-acre lot with on-site parking for eighteen (18) vehicles. The Property also features an on-site laundry room and private balconies/patios for each unit. The Property has undergone significant capital improvements over the last several years including a new boiler (2016), a new parking lot (2019), new windows & sliders (2012-2014), new composite decks and rails (2014), tuck-pointing (2020), new A/C Units (over the last 7 years), new hot/cold water pipes with copper (2009), new coin op washer/dryer (2021), new patios and entry area concrete (2016), and a new roof (2005) with a 15 year warranty. The Property is within walking distance of a multitude of business establishments in Lansing. The Property is 2-mile from a Walgreens, Dollar Tree, Burger King, and a Walmart Supercenter. The Property enjoys close proximity to Wampum Lake and Brownell Woods, nature preserves with walking and biking trails, picnic areas, and year-round outdoor activities. The property is close to the Pace Bus Line, and has excellent access to the Kingery Expressway, which connects I-80, I-94, I-294, I-394, IL-83, and US-6 at the Torrence Avenue exit ramp located within a mile of the property. The quick highway access provides easy accessibility to both Chicago Metropolitan and Northwest Indiana and the surrounding areas. Additionally, the property is a few miles from both the Homewood and Calumet METRA Stations and the Cardinal Line in Dyer, IN.
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.