Fort Madison, IA Capstone has closed the sale of Madison Apartments, a 57,860-sf multifamily property located at 3421 Avenue N. Josh Benard of Capstone brokered the transaction.

Madison Apartments is made up of 88-units built in 1973. The property sits directly across the street from the DuPont Ink Plant, Fort Madison’s largest employer.

The buyer plans on continuing the interior value-add program started by the seller while also implementing significant capital for deferred maintenance.