354-Unit Riverwood Apartment Homes Sells for $23M in Lansing, Ill.

LANSING, ILL. — Marcus & Millichap has brokered the sale of Riverwood Apartment Homes, an apartment complex located at 3647 173rd Court in Lansing, a southern suburb of Chicago. The 354-unit asset sold for $23 million, or $65,000 per unit. Built in 1974, the property features six 48-unit mid-rise building and three two-story buildings totaling 66 units. On-site amenities include a clubhouse with party room, an outdoor pool with sun deck, a fitness center, basketball court, sport court, dog walk area, on-site laundry and on-site storage. Eric Bell of Marcus & Millichap’s Chicago O’Hare office represented the seller and buyer, both of which were not disclosed, in the transaction.