June 25, 2025 – Anthony Spangler and Jacob Elgazar of Horvath & Tremblay have successfully completed the sale of a twelve unit multi-family property in Calumet City, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $750,000.
The property is located at 416 Cornell Avenue in Calumet City, Illinois. The three-story brick building contains twelve (12) rental units comprised of four (4), 1-Bedroom/1-Bathroom units and eight (8), 2-Bedroom/1-Bathroom units with 11,384 square feet of living area in 12,000 square feet of gross area. The well-maintained brick apartment building was constructed in 1963 on a 0.17-acre parcel of land with twelve (12) on-site parking spaces. In-place rents are below the current market rent for comparable units in the area, offering the potential to raise rents and increase current revenue in a high demand, supply constrained market. The property is located in Calumet City, Illinois which is a South Suburb of Chicago located along the border of Illinois and Indiana. The property has excellent access to the Kingery Expressway, which connects with I-80, I-94, I-294, I-394, IL-83, and US Routes 20, 41 and 6, as well as convenient access to several Metra Stations. The quick highway and train access provides easy accessibility to both Chicago Metropolitan and Northwest Indiana 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.