Ivy Lane Apartments: Real Realty Announces $3.85M Sale in Strategic 1031 Exchange
Deal News | Jan 13, 2025 | EIN
Real Realty, a prominent multifamily brokerage and property management firm, announced the successful sale of the Ivy Lane Apartments, a 43-unit multifamily complex in Bradley, Illinois. The property, located near significant local amenities and educational institutions, sold for $3,850,000 as part of a strategic 1031 exchange for the buyer. The buyer previously sold 16 townhomes held over 15 years, leveraging the sale to defer capital gains taxes. The transaction, conducted off-market and represented by industry veteran James Clough, emphasized the property's potential for rental and operational upside. This sale highlights strategic investment opportunities in Illinois's real estate sector.
Sectors
- Real Estate
- Finance
Geography
- United States – The transaction takes place in the state of Illinois, USA, involving local and regional real estate markets.
- Illinois – The property is located in Bradley, Illinois, indicating the geographical focus of the real estate transaction.
Industry
- Real Estate – The article discusses the sale of a multifamily apartment complex, a typical transaction within the real estate industry.
- Finance – The use of a 1031 exchange in the transaction highlights financial strategies in real estate investment, relevant to the finance industry.
Financials
- $3,850,000 – The sale price of Ivy Lane Apartments in the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Real Realty, Inc. | Brokerage | Company | A leading multifamily brokerage and property management firm involved in the sale of Ivy Lane Apartments. |
| James Clough | Broker | Person | An industry veteran who represented the buyer in the off-market transaction of Ivy Lane Apartments. |
| Buyer of Ivy Lane Apartments | Buyer | Unknown | The buyer who participated in the 1031 exchange by purchasing Ivy Lane Apartments after selling 16 townhomes. |