Making Moves in Melrose Park
The subject property is a 17-unit apartment building that was fully renovated in the early 2000’s. The property is comprised of all identical and spacious one-bedroom layouts. The owner was interested in selling and exchanging into a larger property out of state. The buyer was attracted to the overall quality of the property, rental upside and appreciating location. The sales comp illustrates the strong rental growth in the submarket and the robust demand for well-located assets in the Chicago Suburbs.