MultiFamily Property in Glen Ellyn, Illinois Sells for $2.4 Million

403 Duane Street, a 7,400 square foot MultiFamily property in Glen Ellyn, Illinois, has been sold for $2.4 million.

By on Jun 8, 2022
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MultiFamily Property in Glen Ellyn, Illinois Sells for $2.4 Million

A MultiFamily property in Glen Ellyn, Illinois has been sold for 2.4 million. The property, located at 403 Duane Street, spans 7,400 square feet and was sold for 324 per square foot. The transaction closed on June 7, 2022, with Clay Maxfield representing the seller.

Glen Ellyn is a village in DuPage County, Illinois, and is a suburb of Chicago. The village has a population of approximately 27,000 people and is known for its historic downtown area and numerous parks and recreational facilities.

The property at 403 Duane Street is located in a residential area of Glen Ellyn, close to several schools and parks. The building was constructed in 1965 and features six units, each with two bedrooms and one bathroom. The property also includes a two-car garage and a large backyard.

The buyer of the property has not been disclosed. However, the sale price of 2.4 million represents a significant premium over the property's assessed value of 1.8 million, according to public records.

Clay Maxfield, the broker who represented the seller in the transaction, is a seasoned commercial real estate professional with over 20 years of experience. He specializes in the sale of MultiFamily properties and has a deep understanding of the Glen Ellyn market.

Overall, the sale of 403 Duane Street represents a strong transaction for both the buyer and the seller. The property’s location in a desirable residential area, combined with its strong rental history and potential for future appreciation, make it an attractive investment opportunity for the buyer. Meanwhile, the seller was able to achieve a significant premium over the property’s assessed value, thanks in part to the expertise of Clay Maxfield and his team.