Thursday, August 20, 2015

Marcus & Millichap Brokers Sale of 10-Unit Illinois Avenue Apartments in Fort Myers, FL


Adam Podbelski
FORT MYERS, FL, Aug. 20, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Illinois Avenue Apartments, a 10-unit apartment community located in Fort Myers, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The asset sold for $465,000.

Adam Podbelski, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer was secured and represented by Podbelski, Meoli and Donaldson. 

Illinois Avenue Apartments is a 10-unit apartment community consisting of a two-story building located at 2150 Illinois Avenue in Fort Myers, Florida.


Nicholas Meoli
Built in 1966, the structure is comprised of seven, one-bedroom/one-bathroom units with approximately 650 rentable square feet and three, two-bedroom/one-bathroom units with approximately 850 rentable square feet.

Sitting on an approximately 0.40 acre lot just a quarter-mile from the Edison and Ford Winter Estate, Illinois Avenue Apartments features tile flooring in all units, garden-style porches and an on-site laundry facility.

“The demand for multifamily product in Lee County, especially the downtown and River District of Fort Myers, has consistently increased over the past year,” says Podbelski. “Illinois Avenue Apartments is a great example of this as we closed with an all-cash buyer within 30 days of going to contract.”                              


 For a complete copy of the company’s news release, please contact:

 Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL

(813) 387-4700

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