December 27, 2023 – Jonah Carmen of Horvath & Tremblay has successfully completed the sale of a twelve-unit multi-family property in Aurora, Illinois. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $1,170,000.
The multi-family building is located at 506-508 E New York Street in Aurora, Illinois. The three-story brick apartment building was constructed in 1907 and contains twelve (12) multi-family units. The multi-family building has six (6), 2-Bedroom/1-Bathroom units and six (6), 3-Bedroom/1-Bathroom units with 13,800 square feet of living area in 14,790 square feet of gross area on a combined 0.40-acre of land. The Property features a detached garage with six individual bays and ample on-site surface parking. The property is well located along E New York Street on the perimeter of Downtown Aurora. The Property is ideally positioned within Aurora and is surrounded by similar multi-family and single-family residential properties. The Property is located 0.3-miles from Broadway (IL Route 25), one of the area’s primary commercial and commuter corridors. 506-508 E New York Street is a short walk from Stolp Island (on the Fox River) in the center of Aurora. Stolp Island is home to the Hollywood Casino and the famous Paramount Theatre. The Property enjoys close proximity to US Routes 34 and 30, IL Routes 25 and 31 and Interstate 88. The property has a municipal bus top in front of the building and is only 0.5-miles from the Aurora Metra Station for quick, direct access to Chicago and the surrounding areas.
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.