November 2, 2021 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of six (6) multi-family units in Palos Hills, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $735,000.
The multi-family investment property is located at 2 Paxos Drive in Palos Hills, Illinois. The property is a three-story, brick building containing six (6) total units, made up of three (3), 2-Bedroom/1-Bathroom units, and three (3), 1-Bedroom/1-Bathroom units in 5,400 square feet of living area and 6,000 square feet of gross area on a 0.47-acre parcel. 2 Paxos Drive had been under the same ownership for 40 years and was meticulously maintained; the pitched shingle roof was completely replaced in 2016. Additionally, the property features sixteen (16) on-site parking spaces, a laundry facility, and ample green space surrounding the building. The property offers value-add potential, with below market rents, with the opportunity to increase rents to market rates in a high demand, supply constrained market. 2 Paxos Drive is well-located in a densely populated residential community, just a block away from the intersection of S Roberts Road and 103rd Street, and offers convenient access to grocery stores, restaurants, and numerous other retail amenities. 2 Paxos Drive is ideally positioned for commuters with quick and convenient access to public transportation (the Worth METRA Station and numerous Pace bus lines), Interstate 294, and US Routes 20 and 45.
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.