December 11, 2024 – John Meyer of Horvath & Tremblay has successfully completed the sale of Sunnyside Apartments & Townhomes, a fifty-six-unit multi-family property in Marengo, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,815,000.
The Sunnyside Apartments & Townhomes are located at 1000 & 1100 Briden Drive and 430-444 Johnson Street in Marengo, Illinois. The Property is consists of three adjacent multi-family buildings and contains fifty-six (56) residential units comprised of twenty-four (24), 1-Bedroom/1-Bathroom units, twenty-four (24), 2-Bedroom/1-Bathroom units, six (6), 3-Bedroom/1-Bathroom units, and two (2) 3-Bedroom/1.5-Bathroom units on 3.27-acres of land. The Property features ample green space, on-site laundry facilities, and one hundred sixteen (116) on-site parking spaces. The Sunnyside Apartments & Townhomes have enjoyed strong historical occupancy, and the property presents a terrific combination of stable and secure cash flow with significant value add potential by implementing a streamlined management apparatus and strategic renovation of units as they become available. The Sunnyside Apartments & Townhomes are situated along a quiet residential street that is seconds from U.S. Grant Memorial Highway (US Highway 20) and 1-mile from State Street (IL Route 23), the area’s primary commercial and commuter corridors. The location offers convenient access to area schools, outdoor recreation areas, the town’s grocers (Sullivan’s Foods & Dollar General), restaurants, and several other retail and service amenities. The Sunnyside Apartments & Townhomes are ideally positioned within a rural community, offering a small town feel while providing commuters with convenient access to US Highway 20 and Interstate 90. Marengo is located approximately 25 miles east of Rockford and 60 miles northwest of the Chicago Loop and offers convenient access to the city via Interstate 90.
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.