Just Listed: Portfolio of 66 New Construction Luxury Units in Three Buildings in River Grove and Elmwood Park, IL

February 02, 2024

CHICAGO, ILLINOIS – Chicago-based multifamily brokerage firm Essex Realty Group, Inc. announced it has been exclusively engaged to market for sale a portfolio of three new construction buildings in River Grove and Elmwood Park, suburbs of Chicago, Illinois.

The buildings are available together as one portfolio or individually. This presents a unique opportunity for an investor to acquire three exceptionally well-constructed, low-maintenance assets. The total sale price for all three buildings is $17.85 million.

The addresses of the buildings and number of units for each are as follows:

8465-8471 W. Grand Avenue in River Grove was delivered in 2018. It includes four 12-unit buildings, each with 12 two bedroom/two bath apartments. The property also includes forty-eight (48) surface parking spaces in front of all four buildings. The sale price is $12.9 million.

8538 W. Grand Avenue in River Grove consists of six luxury apartments and was completed in 2019. The building also includes nine surface parking spaces in the back of the building. The sale price is $1.7 million.

• The Grand Elm, at 7353-7355 West Grand Avenue in Elmwood Park, is a building with 12 luxury apartments completed in 2019. The property also includes 12 garage parking spaces in the rear of the building. The sale price is $3.25 million.

Listed by Principal, Steve Livaditis and Managing Director, Brian Karmowski, each of the 66 units feature gourmet kitchens, modern bathrooms, individual HVAC units, domestic hot water tanks, and in-unit laundry. Each residence also includes a private balcony or gated outdoor area. Parking is available as a fee-based amenity.

Tagged in this post: Steven Livaditis , Brian Karmowski