Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Marcus & Millichap Handles Auction of Blue Island Multifamily
Marcus & Millichap announced a Feb. 16 bid deadline for the court-supervised auction of Blue Station Apartments, a 347-unit multifamily asset in Blue Island, IL. Bids must be delivered by 5 p.m. on the 16th.
“Blue Station Apartments is being sold subject to a minimum stalking-horse overbid of $15,731,125 and the sale will be conducted subject to the court-approved bid procedures,” said Ryan Engle, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “If one or more qualified bids are submitted, an auction will be held on Feb. 18th, 2021.”
Located in an Opportunity Zone, the property is within walking distance of Pace Suburban Bus stops and the 123rd Street/Blue Island Metra station. The unit mix ranges from studios to three-bedroom units and there are two retail spaces. The property features ample off-street parking and multiple on-site laundry facilities.
For comments, questions or concerns, please contact Paul Bubny
