Springwood Park Apartments Sell For $14.7 Million

Senior Advisor Gary W. Kramling, in partnership with Reid Bennett and Cody Doran of SVN | Chicago Commercial, are pleased to announce the sale of Springwood Park Apartments, a 100-unit apartment community in east Durham, adjacent to the newly opened East End Connector (I-885).

Built in 1990 and located at 3004 Ivey Wood Lane, the community consists of two and three bedroom floor plans ranging in size from 860 to 1,116 SF. Units feature private patios/balconies and outdoor storage closets while community amenities include a playground and barbeque/picnic area. The property sold for $14,701,600.

“We are especially grateful to the seller for entrusting us to bring this highly sought-after asset to market," Kramling said. “Despite deteriorating market conditions, we were able to achieve very favorable pricing for our client.”