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Rafee Hammad Acquires Multifamily Property In River Grove For $790K

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SOLD
$790,000

Illinois

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MultiFamily6,614 SF
Sold 07/20/2022
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Property Image
SOLD

Rafee Hammad Acquires Multifamily Property In River Grove For $790K

8221 West Enger Lane

See Similar Deals
MultiFamily6,614 SF
Sold 07/20/2022
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$119
Total Square Footage:6,614 SF
Transaction Type:Sale

An oversized six-unit apartment building located at 8221 Enger Lane in River Grove, IL has been sold. The property features six units with a unit mix consisting of five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Additional amenities include an owner's work room, a change machine, an on-site laundry facility, a storage shed, and six parking spaces. Recent capital improvements include new windows throughout, a tear-off roof, exterior doors, and a repaved parking lot. The sale price for this multifamily asset was $790,000, resulting in a price per unit of $131,666.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $790,000
  • Square Footage: 6,614
  • Price Per Square Foot: $119
  • Address: 8221 Enger Ln, River Grove, IL
  • Market: River Grove

The buyer of the property was Rafee Hammad, while the seller was Dorsey LLC. The transaction was facilitated by brokers Christopher Malay and Eric Bell from Marcus & Millichap. The sale was completed in an all-cash deal.

This transaction marks the second highest price per unit sale in the history of River Grove. Marcus & Millichap is pleased to announce the successful sale of this unique and well-maintained multifamily property.

Players

Eric Bell
13 deals$40.7M volume
BROKER

Christopher Malay
Marcus & Millichap
9 deals$16M volume
BROKER

Details

SOLD
IMAGE: Christopher Malay & Eric Bell DATE: 07/20/2022 ADDRESS: 8221 Enger Ln MARKET: River Grove ASSET TYPE: Multifamily BUYER: Rafee Hammad SELLER: Dorsey LLC BROKERS: Christopher Malay & Eric Bell - Marcus & Millichap SALE PRICE: $790,000 SF: 6,614 ~ PPSF: $119 NOTE FROM BROKERS: Marcus & Millichap is pleased to announce the sale of 8221 Enger Lane, an oversized six-unit apartment building in River Grove, IL. The unit mix is comprised of five two-bed/one-bath units and one one-bed/one-bath unit. This unique building features an owner’s work room, change machine, on-site laundry facility, storage shed and six parking spaces. The building has received various capital improvements including new windows throughout, tear-off roof, exterior doors, and repaved parking lot. The property sold for $131,666 per unit, to an all-cash buyer, which makes this transaction the second highest price per unit sale in River Grove history.

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