Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Real Realty Brokers Sale of Montgomery Townhomes
Real Realty, a Chicago-based multifamily brokerage and property management firm, announced the closing of the Kevin Drive Townhomes, a 16-unit townhome multifamily community located in Montgomery, Illinois.
The property is located near the heavily traveled intersection of Orchard Road and US Route 30 and it recently sold for $3.1 million. Real Realty’s James Clough represented the seller of the transaction, who he sold the building to in 2010. Clough also represented the buyer, a local investor in suburban apartment buildings.
The asset consists of 16 identical 2-bedroom, 1.5-bath duplex units with an attached garage. “We had the property on the market for a few months and had significant interest in the property due to its location, large unit sizes and the strong demand from both renters and investors in the Chicago suburbs,” said Clough. “Ultimately, we signed a contract with a 1031 exchange buyer moving assets from Cook County to the surrounding suburbs.”
