PRESS ROOMNEWS RELEASE
Inland Real Estate Commercial Brokerage, Inc. Completes Investment Sale in Palatine, Illinois
Nancy GofisInland Communications
Oak Brook, Ill. – Inland Real Estate Commercial Brokerage, Inc. (“Inland Commercial Brokerage”) today announced the sale of a six-unit residential property in Palatine, Illinois. Paul Montes and Eric Spiess, senior vice presidents of Inland Commercial Brokerage, facilitated the transaction on behalf of the seller.
The multifamily property, located at 1551 North Winslowe Drive in the Palatine Square Apartment Complex (“Palatine Square”), sold for $590,000. Its proximity to Dundee and Rand Road offers convenient access to Route 53, O’Hare International Airport and a number of recreational parks and golf courses. The complex is minutes from a commercial thoroughfare, with restaurants and national retailers including Walmart, Home Depot, TJ Maxx and Home Goods.
The property is comprised of five two-bedroom, one-bathroom units and a single one-bedroom, one bath unit, and each features a private balcony or patio and an on-site laundry facility. A private investor purchased the property as a value-add opportunity.
“The property’s owner was looking to retire, offering the buyer an opportunity to secure their first multifamily investment,” said Spiess. “Palatine Square’s strategic location, with an abundance of nearby shopping and dining, drives demand and ensures minimal turnover and vacancy.”
About Inland Real Estate Commercial Brokerage, Inc.
Inland Real Estate Commercial Brokerage, Inc. is a boutique brokerage firm providing real estate solutions for sales and exchanges for private, public and institutional owners/managers of commercial investment real estate. Throughout Inland’s history, its brokerage entities have closed on more than $1.3 billion including 8,700 multifamily apartments and 140 million square feet of commercial real estate. For more information, please visit www.inlandbrokerage.com.