Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Schwarz Properties, a 49-unit apartment property located in Belvidere, IL, according to Joseph J. Powers, regional manager of the firm’s Chicago Downtown office, and Todd Lindblom, regional manager of the firm’s Milwaukee and Minneapolis offices. The asset sold for $2,202,286.
Eric Wagner and James Ziegler, investment specialists in Marcus & Millichap’s Chicago Downtown and Milwaukee offices, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Eric Wagner and James Ziegler,
Schwarz Properties is located at 2103 Christi Ln in Belvidere, IL. The property has five buildings with a total of 41 units, newer roofs, onsite laundry facilities, and the option to rent from 11 garage spaces. The buildings were constructed in between 1967 and 1997