October 24, 2024 – Anthony Spangler of Horvath & Tremblay has successfully completed the sale of a ten unit multi-family property in Lansing, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $830,000.
The property is located at 17719 & 17725 Commercial Avenue in Lansing, Illinois. The Property is improved by two adjacent two-story brick buildings and contains a total of ten (10) residential units comprised of two (2), 1-Bedroom/1-Bathroom units, six (6), 2-Bedroom/1-Bathroom units, and two (2), 3-Bedroom/2-Bathroom units with 7,000 square feet of living area in 8,000 square feet of total gross area on 0.4-acres of land. The well-maintained brick apartment buildings feature on-site laundry facilities and twelve (12) on-site parking spaces. Rents in the property are significantly below market and the opportunity exists to increase rents to market rates in a high demand, supply constrained market. The property is a short walk from the Pace Bus Line, and has excellent access to the Kingery Expressway, and US-6 at the Torrence Avenue exit ramps located less than 1-mile from 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 Hammond and Calumet METRA Stations and the Cardinal Line in Dyer, IN. The Property is located within 0.5-miles of Torrence Avenue, one of the area’s primary commercial and commuter corridors and is within walking distance of a multitude of business establishments retailers and restaurants along Torrence Avenue including McDonald’s, Subway, and Dunkin’. The Property is 0.3-miles from Walmart Supercenter and enjoys convenient access to a number of other national retailers and restaurants. The Property is also 1.5-miles from Lansing Woods and Brownell Woods, a nature preserve with walking and biking trails, picnic areas, and year-round outdoor activities.
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.