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

3625 147th Street
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This property located in IL was sold for $4,100,000 about 2 years ago. The brokers of the deal were Christopher Malay and Eric Bell

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.

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Deals
  • Location
    3625 147th Street, Midlothian, Illinois 60445, United States3625 147th Street, Midlothian, Illinois 60445, United States
  • Sale Price
    $4,100,000$4,100,000
    $104 PPSF$104 PPSF
  • Area
    39,150 SF39,150 SF
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Christopher Malay

Christopher Malay

Deals8
Sold$11.6M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Christopher Malay DATE: 01/21/2022 ADDRESS: 3625 147th Street MARKET: Midlothian, IL ASSET TYPE: Package Deal BUYER: Levitin & Associates, P.C. SELLER: Larry Cyz BROKERS: Christopher Malay & Eric Bell - Marcus & Millichap SALE PRICE: $4,100,000 BUILDINGS: 9 ~ PPB: $455,555 UNITS: 54 ~ PPU: $75,925 SF: 39,150 ~ PPSF: $105 NOTE FROM BROKER'S: Christopher Malay and Eric Bell of Marcus & Millichap were hired to exclusively market the Midlothian 54-Flats Portfolio, a nine-building portfolio totaling 54-units in Midlothian, IL. Mr. Malay and Mr. Bell procured the buyer, an out-of-state investor, who acquired the portfolio to further their economies of scale growth within the Midlothian market. The scattered-site portfolio is assembled in two locations, along 147th Street and Keystone Avenue, which are located within a half mile from one another. Addresses: 3625 & 3635 147th Street - 3626, 3632, 3638 & 3646 147th Place - 14618, 14619 & 14643 Keystone Avenue Listing and Selling Agents: Christopher Malay & Eric Bell

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3625 147th Street

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