ACO Commercial Sells Midlothian 14-Unit to West Coast Investor for $67,142/unit
CHICAGO, ILLINOIS – Monday, May 15, 2017
ACO Commercial is pleased to announce the sale of 3329 W. 147thPlace in Midlothian, IL. The 12,000 SF 14-unit walk-up apartment building was in excellent condition and 93% occupied at the time of sale. The transaction marked the firm’s tenth multifamily sale in Midlothian, and one of the highest price-per-unit transactions recorded in recent years.
George Toscas, Managing Broker, Edward Bluemel II, Vice President, and Linda Hattar, Vice President, arranged the sale on behalf of a repeat client, looking to capitalize on the recent years of value appreciation and capital improvements. The sale of $940,000 represented a price per unit of $67,142 and a capitalization rate of approximately 8.3%.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.