CHICAGO–January 16 2014–Sperry Van Ness Chicago Commercial has completed the sale of a 71 unit apartment complex located in St. Charles, Illinois. Matthew Pinsky, Jim Sears and Reid Bennett of Sperry Van Ness LLC represented the Seller in the transaction. The asset commanded a sale price of $5,625,000, more than 99% of its list price and a nearly $80,000 per-unit price.
“This asset traded at an aggressive cap rate, especially for its size and building age. However, we have seen some aggressive values in our target of 50-200 units,” Pinsky said.
Founded in 1987, Sperry Van Ness is one of the largest and fastest growing commercial real estate brokerage firms in the industry, with more than 1,300 Advisors in 38 states. Sperry Van Ness delivers results for clients through a proven business model that provides advanced marketing and technology tools. Based in Irvine, Calif., the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. Sperry Van Ness transactions total billions of dollars annually in retail, office, multifamily, industrial, self-storage, hospitality and land transactions.
Sperry Van Ness, LLC is a national full-service commercial real estate advisory firm located at 940 West Adams Street in downtown Chicago. 312.676.1866. For more information, please visit www.svnchicago.com.
Sperry Van Ness, LLC | Chicago Commercial