ReJournals | Illinois Multifamily

Hanover Park apartment building trades over list price for $6.4 million

June 17, 2022

Essex Realty Group, Inc. recently facilitated the sale of Pinetree Apartments located at 6654-6754 Pinetree Street in the Cook County suburb of Hanover Park.

The seller, a local investor, hired the Essex team of Brian Karmowski and Brian Kochendorfer to exclusively market the property for sale. After just two weeks of marketing the property, Essex procured multiple offers to purchase. The property closed $25,000 over list price for $6,400,000. Essex Director Anthony Citriglia represented the buyer.

Pinetree Apartments is a 64-unit garden complex located in Hanover Park, just one-half mile north of the Hanover Park Metra Station. The property is comprised of four separate two-story buildings consisting of 16 units each. Current ownership recently renovated approximately half of the apartment units presenting a value add opportunity for the next owner.

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