Suburban Multifamily Portfolio Totaling 135 Units Sells for $18.48 Million Through Essex Realty Group

Chicago Multifamily Transaction Overview

Chicago based multifamily brokerage firm Essex Realty Group, LLC announced the successful closing of the Lake & McHenry Collection, a 135-unit multifamily portfolio comprising of four separate properties in Grayslake, McHenry, and Island Lake, Illinois.

The assets were exclusively marketed and sold by the firm’s suburban team of Brian Karmowski, Anthony Citrigila, Karla Galva, Jimmy Donahue, and Amir Abdullaev, securing a total sale price of $18.48 million.

The Lake & McHenry Collection included Glen Street Apartments (Grayslake), James Street Apartments and Concord Manor Apartments (McHenry), and Cotton Creek Apartments (Island Lake). All properties were professionally managed and well maintained, bolstering an occupancy rate of 95% or greater and an average renewal increase of 7%.

Portfolio Features

“Essex was honored to be the exclusive listing brokerage of the portfolio and was proud of our robust marketing efforts and results – 50+ property tours and 15+ offers resulting in record pricing for properties of similar vintage and size in each respective submarket,” said Principal Brian Karmowski.

Each asset exhibited a healthy balance of in-place stability and value-add potential, supported by a healthy suburban rental market, scarcity of comparable inventory, and steady demand for one- and two-bedroom housing across Lake and McHenry counties.

Essex Realty Group’s Role in the Transaction

Across all three transactions, the portfolio closed at an average of approximately 95.3 percent of list price, demonstrating the team’s ability to position suburban assets effectively and generate competitive investor engagement.

Read On:

• Three Reasons To Invest in Multifamily Property Located In Lake County
• Why The Chicago Suburbs Are a Strong Contender in The Rental Market with Brian Karmowski

Work With Chicago Multifamily Brokers

To get connected with one of our brokers regarding a recent or upcoming Chicago Multifamily Sale, please fill out the form below.

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

If you enjoyed this content and would like to stay in the loop, please consider following us on LinkedIn and Instagram!