Marcus & Millichap has successfully concluded the sale of Light Road Apartments, a 168-unit multifamily property located in Oswego, Illinois. The seller, a private investor, was represented by Marcus & Millichap’s Ryan Engle and Andrean Angelov. In collaboration with Zack Mahoney from Marcus & Millichap, they were able to secure the buyer – also a private investor.
According to Engle: “This well-maintained asset offers immediate cash flow for the buyer in an area that is projected to have one of the highest rent growth rates among major metros this year.” Built on 10 acres in 1972, Light Road Apartments boasts convenient access to Illinois State Routes 31,25 and 71.
The property is situated just two miles away from downtown Oswego and within close proximity to Fox Chase Elementary School as well as Augusta Lake Park and Marina Shopping Center. It comprises of both one-bedroom (98 units) and two-bedroom (70 units) apartments with amenities such as a clubhouse,pool,parking lot,and laundry facility available for residents’ use.
In March of next year(2024), Joe’s Live at Rosemont,Illinois will be hosting Connect Industrial Midwest- an event dedicated towards discussing industrial real estate trends specific to this region.For more details about registration or information regarding this event please click here.
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