CHICAGO, IL - Chicago-based multifamily brokerage firm Essex Realty Group, LLC announced the sale of the Glen Street Apartments at 145-185 Glen Street, located in the village of Grayslake, approximately 50 miles north of Downtown Chicago.
Located in a quiet residential pocket just south of Grays Lake, Glen Street Apartments, built in 1984, consists of 40 units, including 90% 2-bedroom apartments with additional one-bedroom and three-bedroom layouts, plus a leasing office. Current ownership has recently made significant capital improvements, including a new parking lot and a full concrete catwalk replacement.
“Essex generated 15+ tours and multiple offers, a testament to our marketing platform and the continued demand for suburban multifamily assets. Congratulations to all parties involved.” said Brian Karmowski, Principal at Essex Realty Group, LLC, who represented both the buyer and seller of the transaction.
Glen Street Apartments is located within walking distance of the Metra train station, downtown Grayslake, and local schools, providing tenants with easy access to transit and nearby amenities. Additionally, Jones Island Park and the College of Lake County are just a short drive away.
Throughout the marketing phase, 145-185 Glen St. attracted significant interest from prospective buyers, ultimately selling for $5.825MM. The transaction is the largest sale, and only the second multifamily sale in Grayslake in the last four years.