FCA Acquires Orchard Estates In Alsip For $11.1M

The property involved in the sale is Orchard Estates, a 156-unit apartment complex located at 4600 W 122nd St in Alsip, Illinois. Built in 1973, the property consists of six three-story buildings situated on a 6.2-acre lot. The complex comprises 72 one-bedroom units and 84 two-bedroom units, with an impressive 96 percent occupancy rate at the time of the transaction. The sale was brokered by Marcus & Millichap for a total of $11.1 million.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $11,100,000.00
• Market: Alsip
• Seller's Representative: Ryan Engle (Marcus & Millichap)
• Buyer: FCA

Ryan Engle of Marcus & Millichap played a pivotal role in this transaction by representing the seller and successfully procuring the buyer, FCA. The identities of both the seller and buyer remain undisclosed, adding a layer of confidentiality to the deal. The Orchard Estates sale underscores the strong demand and investment activity in the multifamily real estate sector within the Alsip market.