Essex Realty Group Brokers the Sale of Two, 12-unit Apartment Buildings in Libertyville, IL

August 07, 2019

Essex Realty Group, Inc. is pleased to announce the sale of the Northline Apartments in Libertyville, IL

The Northline Apartments are located in the affluent Lake County suburb of Libertyville. The property is comprised of two, 12-unit apartment buildings located at 905 & 911 N. Milwaukee Ave. in downtown Libertyville. The property is just steps from the Libertyville Metra station as well as the Milwaukee Ave. commercial corridor, affording tenants a vibrant urban lifestyle.

911 N. Milwaukee Ave. was built in 2016 and features high-end condo-quality finishes, an elevator, large floor plans, 8′ windows, 13 storage lockers, and heated garage parking. All units are 2Bd/2Ba and range in size from 1,081 to 1,306 square feet.

905 N. Milwaukee Ave., built in 1986, features 2Bd/2Ba units and range in size from 834-851 square feet. Current ownership has fully renovated four and partially renovated eight of the twelve apartments with condo-quality finishes throughout, resulting in an increase of $125/unit/month. In the last three years, the building has received extensive exterior, mechanical, and common area upgrades.

The purchase price was $5,500,000.

Doug Imber, Kate Varde, and Brian Kochendorfer represented the seller on the transaction.

Since 1990, Essex Realty Group, Inc. has served Chicago’s investment real estate market as a top multifamily brokerage firm. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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Tagged in this post: Doug Imber , Kate Varde , Brian Kochendorfer