Levitin & Associates, P.C. Acquires Midlothian 54-Flats Portfolio For $4.1M

The Midlothian 54-Flats Portfolio, consisting of nine buildings with a total of 54 units, has been sold in a package deal in Midlothian, IL. The portfolio, located along 147th Street and Keystone Avenue, was exclusively marketed by Christopher Malay and Eric Bell of Marcus & Millichap. The buyer, Levitin & Associates, P.C., is an out-of-state investor looking to expand their presence in the Midlothian market. The sale price for the portfolio was $4,100,000, with each building priced at approximately $455,555. The average price per unit was $75,925, and the average price per square foot was $105.

Summary of transaction details:

• Property Type: Package Deal
• Transaction Amount: $4,100,000
• Number of Buildings: 9
• Number of Units: 54
• Total Square Footage: 39,150
• Price per Building: $455,555
• Price per Unit: $75,925
• Price per Square Foot: $105

Christopher Malay and Eric Bell of Marcus & Millichap were instrumental in facilitating this deal, representing both the buyer and the seller. Their expertise in the Midlothian market and their ability to market the scattered-site portfolio in two locations contributed to the successful transaction. Both the buyer and the seller expressed satisfaction with the outcome of the deal, with the buyer looking to leverage their acquisition for further growth in the area.