DEAL OF THE DAY: Sperry Van Ness Completes Sale of Illinois Properties for $10M
- Jul 09, 2008
By Anuradha Kher, Online News EditorRockford, Springfield, Ill.–Sperry Van Ness recently arranged the sale of two apartment communities in Illinois totaling $10.5 million.An out of state investor, in conjunction with two Illinois limited liability companies, recently purchased the Briargate Apartments in Rockford, Ill. for $8.3 million. The property was built in 1991 and consists of 144 two-bedroom apartments, all of which include washer/dryer and dishwasher units as well as private garage parking.A local downstate investor purchased the St. Nicholas Apartments in Springfield, Ill., for $2.5 million. The property was once a hotel where guests including former presidents Harry Truman, Dwight Eisenhower and John F. Kennedy stayed. It now features 90 apartments plus commercial spaces.