Real Realty, a property management and multifamily brokerage firm based in Chicago, recently announced the successful sale of the Kevin Drive Townhomes. This 16-unit townhome community is located in Montgomery, Illinois and was sold for $3.1 million.
The property is conveniently situated near Orchard Road and US Route 30, making it a highly desirable location for both renters and investors. Real Realty’s James Clough represented both the seller – who originally purchased the building from him back in 2010 – as well as the buyer: a local investor with interests in suburban apartment buildings.
The townhomes are all identical duplex units featuring two bedrooms, one-and-a-half bathrooms each with an attached garage. According to Clough: “We received significant interest during our few months on market due to its prime location, spacious unit sizes and strong demand from renters/investors within Chicago’s suburbs.” Ultimately though they were able to secure a contract with an exchange buyer utilizing their assets from Cook County into surrounding areas.
This transaction marks another success story for Real Realty as they continue to excel within their field of expertise throughout Chicagoland area real estate markets.
