Apartment Portfolio Fetches $8M in Loves Park, Rockford
Marcus & Millichap recently closed the sale of Forest City Properties, a 111-unit apartment portfolio located in Loves Park and Rockford, IL. The portfolio sold for $8,275,000.
Eric Wagner and James Ziegler, investment specialists in Marcus & Millichap’s Chicago Downtown and Milwaukee offices, marketed the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Wagner andZiegler.
Forest City Properties are located in five locations throughout Loves Park and Rockford. Each unit has a separate entrance and 99% of the units have a one or two car garage. The portfolio received numerous capital improvements under its previous ownership, including new siding, blacktopped driveways, windows, and interior renovations.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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