Metro East apartments sold for $8 million

A 162-unit multifamily complex in Shiloh, Illinois, has been sold for $8 million.

Slurm LLC purchased Rockwood Apartments, at 2213 Rockwood Drive, for $8 million. Jeff Colona and Brad Barham of Marcus & Millichap represented the seller, Forest Hills LP, which facilitated the deal through a 1031 exchange.

The apartments were built over several phases from 1997 and 2000 on 9 acres and offer one- to three-bedroom units.

The average rental rate in the Metro East is $777, according to Cushman & Wakefield…

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