Marcus & Millichap has completed the sale of ReNew on Main, a 69-unit apartment and retail property in Algonquin, Illinois. The property includes 21 one-bedroom and 42 two-bedroom apartments, along with 10,221 square feet of retail space.
“The buyer was drawn to the unique combination of newer construction, spacious apartments and retail along the Fox River in downtown Algonquin,” said Jordan Callaway, first vice president investments. “With strong demand in the Algonquin rental market and continued growth in the Chicagoland area, this property is well-positioned for long-term success.”
Callaway and Eric Bell, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. Situated on 1.6 acres at 1 N. Main St., ReNew on Main is within walking distance of local businesses, restaurants, and retail options.
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