Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced the sale of Brookview Apartments, a 96-unit apartment property located in Peoria, Illinois, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $4,700,000.
Kyle Stengle, Steve Rachman and Thomas Heitzman, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller. The buyer, a private investor based in Seattle, Washington, was in a 1031 exchange and represented by Jonathan Bench, an investment specialist in Marcus & Millichap’s Seattle office.
Brookview Apartments, a garden-style apartment community, is located at 2915 W. Cannes Dr. in Peoria, Illinois and includes 72 one-bedroom, one-bath apartments and 24 two-bedroom, one-bath apartments.