The Contree Manoir Apartments was built between in 1977 and is in Muscatine, IA a town 30 miles southwest of the Quad Cities. This was only the second time the property has been sold since it was built.
The complex had 5 separate buildings containing 6- efficiency, 11 one-bedroom, and 49 two-bedroom units.
The property had been meticulously maintained the Seller, a family partnership, for 10 years. The Buyer was a family trust from suburban Chicago, looking to diversify their assets out of Illinois.
The Buyer and Seller were represented by Shaun Buss & James Clough of Triad Real Estate Partners and the loan was procured by Jim Vozza of CBRE.