CHICAGO-December 13, 2013–Sperry Van Ness Chicago Commercial has completed the sale of a 74-unit apartment complex located at 5703-5725 Forest Hills Road in Rockford, Illinois. Reid Bennett, Jim Sears and Cody Doran of Sperry Van Ness, LLC represented the Buyer in the transaction. The asset commanded a sale price of $3,095,000.
“This sale represents the eighth apartment building with an affordable component we have closed in the last twelve months. Family and Elderly properties with a HAP contract continue to be extremely desirable assets,” Bennett 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.