October 18, 2024 – Anthony Spangler and Thomas Shanley of Horvath & Tremblay have successfully completed the sale of a twenty-two unit multi-family portfolio in Streator, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,500,000.
The Portfolio is located at 2 Kiley Drive and 207 N Vermillion Street in Steator, Illinois and is comprised of two Multi-Family Properties and contains twenty-two (22) residential units comprised of fourteen (14), 2-Bedroom/1-Bathroom units and eight (8), 2-Bedroom/2-Bathroom units with 23,408 square feet of total gross area on a combined 0.70-acres of land. The attractive brick buildings feature separately metered utilities with the tenants responsible for electricity, heat and hot water, balconies in select units, on-site laundry facilities, and detached garages as well as surface parking. With below-market rents, the opportunity exists to increase rents to market rates and significantly increase the income of the Property through improved management and programmatic upgrades to the remaining unrenovated unit interiors. 2 Kiley Drive is located on a quiet residential street in the northwest portion of the town. 207 N Vermillion Street is located across from the town green in the heart of Streator’s commercial district. Both Properties offer convenient access to area schools, retailers, restaurants, and parks. Additionally, both Properties are close to the area’s primary roadways, IL Routes 18 and 23.
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.