October 27, 2020 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of seven (7) multi-family units in Lemont, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $475,000.
The multi-family investment property, located at 705 Illinois Street in Lemont, Illinois, is comprised of seven (7) multi-family units. The two-story apartment building was constructed in 1963 and contains six (6) 1-Bedroom/1-Bathroom units and one (1) 2-Bedroom/1-Bathroom unit in 4,500 square feet of living area (6,000 square feet of gross area) on a 0.2-acre lot. There is a laundry room with a separate entrance for the tenants, and plenty of parking in the lot, and on the street. The property is located in Lemont, Illinois which is a Southwest Suburb of Chicago located directly off of two major highways I-355 and I-55, and enjoys close proximity to Routes 171, 83, and 45. 705 Illinois Street is within walking distance of the commercial and commuter corridors of Lemont and provides quick access for workers and travelers to downtown Chicago (less than 30 miles). The property is less than 1/2-mile from Lemont Station, served by the METRA Heritage Corridor with direct access to Union Station in Chicago. Additionally, tenants are within walking distance to all that Historical Downton Lemont has to offer including boutique restaurants, bars, shopping and sight-seeing.
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.