12/3/2007

M&M sells Peoria apartments for $15.7 million

by

Knoxville Pointe Apartments

Green Bay, Wis.-based Dunlap Apartments LLC, has purchased the Knoxville Pointe Apartments in Dunlap, Ill., for $15.7 million from Knoxville Partners LLC.

Shaun Buss, Sean Lyons and James Walsh of Marcus & Millichap brokered the transaction.

The 218-unit apartment complex is located at 1700 W. Hickory Grove and was fully leased at the time of sale. It is comprised of 13 two-story buildings with 220,012 square feet on 15 acres. It features one-, two- and three-bedroom units.

Walsh was recently tapped to market four Toledo, Ohio multi-family properties with an asking price of $62.5 million for Associated Estates Realty Corp.

Dunlap is a town of less than 1,000 that is 16 miles north of Peoria.

Address: 1700 W. Hickory Grove Rd., Dunlap, Ill.

Size: 218 units

Built: 2001 and 2005

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Filed Under: Multi-Family

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