ACO Commercial Arranges Sale of 84 Units in Clarendon Hills for $10 Million
CHICAGO, ILLINOIS – Wednesday, July 26, 2017
ACO Commercial is pleased to announce the sale of the Clarendon Arms Apartments in Clarendon Hills, Illinois. The property consists of 84 residential units in multiple walk-up style buildings located in the affluent Hinsdale Central High School district. At the time of sale, the property was well maintained with a stabilized operating history.
The sale price represented a price per unit of approximately $125,000, and a capitalization rate of approximately 6.1% on in-place revenue. The existing agency debt was assumed at approximately 60% loan to value.
George Toscas, Managing Broker, completed the transaction and facilitated the assumption of the existing debt on behalf of a national real estate fund based in Wheaton, Illinois.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.