AJ Commercial Group is pleased to announce the sale of Pekin Place Apartments, a 36-unit multifamily property located in Pekin, Illinois. This asset provided a strong value-add opportunity with a mix of updated units, solid physical condition, and flexible lease terms.
The property features an even mix of one-bedroom and two-bedroom units, with 80% of the units already updated with modern finishes. It's a fully electric building, simplifying utility setups and reducing mechanical complexity. Major capital improvements have already been completed, including newer windows and roof (both approx. 5 years old).
At the time of sale, the majority of tenants were on month-to-month leases, giving new ownership flexibility to capture rental upside through lease renewals and continued upgrades. Pekin Place Apartments offered an ideal blend of stability and upside for private investors seeking Midwest yield.
Whether you're thinking about selling, repositioning, or executing a 1031 exchange — start with a real conversation. We'll listen first and give you actual numbers, not just a pitch.
