CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 1205 N. Frolic also know as Crescent Apartments. The property consists of two, twenty-four unit apartment buildings as well as one, sixteen unit apartment building on an approximate 2.23 acre site. The three building, sixty-four unit complex was constructed by the current owners in 1990. Each three-story building features exceptionally large apartments, passenger elevators, and a heated underground parking garage that offers one parking space per unit;additionally the property includes sixty-four outdoor parking spaces.
Crescent Apartments is located in Chicago's north suburb of Waukegan. Situated roughly two miles east of Skokie Highway (Route 41) and three miles west of Lake Michigan, Crescent Apartments offers residents easy access to nearby communities.
The Subject Property consist of a unit mix of (32) one bedroom/one bath, (32) two bedrooms/two baths, (64) Underground parking spaces and (64) Outdoor spaces.
Doug Imber and Kate Varde of Essex were the brokers in the transaction. The price was approximately $3,470,000.
Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area. Since its founding in 1990, Essex has carved a unique niche, focusing exclusively on the brokerage of investment properties valued between $1 million and $30 million, with a strong emphasis in multi-family, retail and shopping center sales.
Our specialization enables us to track and interpret market data quickly, thoroughly and accurately. Utilizing this information, we are able to provide our clients with guidance on property valuations and effective marketing strategies. Our goal is to maximize both property selling prices and buying opportunities, yielding an unmatched rate of customer satisfaction. This success is evidenced by the fact that nearly half of our business is with repeat clients, including many of Chicago's top real estate investors.