Essex Realty Group Brokers $24.3 Million Sale of 155-Unit Lakeside Village Apartments in Mundelein
CHICAGO, IL – Essex Realty Group, LLC has brokered the $24.3 million sale of Lakeside Village Apartments, a 155-unit garden-style apartment community in Mundelein, Illinois. Essex Realty Group Principal Brian Karmowski represented both the seller, Bear Peak Capital, and buyer, HMS Apartments, in the transaction.
Situated on approximately eight acres across seven contiguous parcels with frontage on Diamond Lake, the property provides immediate scale, strong occupancy, and a proven value-add opportunity in one of Lake County’s most established suburban rental markets.
Transaction Summary
| Property | Lakeside Village Apartments, Mundelein, Illinois |
| Neighborhood | Mundelein |
| Property Type | Garden-Style Multifamily |
| Unit Count | 155 Units |
| Sale Price | $24,300,000 |
| Representation | Seller and Buyer Representation by Essex Realty Group |
| Team | Principal Brian Karmowski |
Property Overview
Lakeside Village comprises 25 studios, 96 one-bedroom units, and 34 two-bedroom, one-and-a-half-bath units, totaling approximately 110,640 rentable square feet.
The community is situated on approximately eight acres across seven contiguous parcels with frontage on Diamond Lake. Amenities include a clubhouse, business center, on-site laundry, package receiving, a playground, and picnic and grilling areas.
Largest Mid-Market Apartment Transaction in Lake County
“The sale of Lakeside Village Apartments represents the largest mid-market apartment transaction in Lake County in nearly two years,” said Principal Brian Karmowski. “The fundamentals of Mundelein as well as Lake County overall continue to attract both local and institutional buyers.”
Prime Mundelein Location
Located approximately 35 miles northwest of downtown Chicago, Mundelein offers convenient access to U.S. Route 45, Illinois Routes 60, 83, and 176, and Interstate 94.
The Mundelein Metra station on the North Central Service line is approximately one mile from the property and provides direct service to O’Hare International Airport and Chicago Union Station.
Work With Essex Realty Group
Essex Realty Group specializes in the sale of multifamily investment properties throughout Chicago and the surrounding suburbs. Our team provides apartment owners and investors with market expertise, strategic marketing, and transaction advisory services.
To learn more about Lakeside Village Apartments or discuss the value of your multifamily property, contact the Essex Realty Group team.
About Essex Realty Group
Essex Realty Group, LLC is a Chicago-based commercial real estate brokerage specializing in multifamily investment sales. Since 1990, Essex has served Chicago’s investment real estate community, providing expertise to multifamily property owners and investors throughout the Chicago metropolitan area.
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