ReJournals | Illinois Multifamily
Essex Realty Group brokers $6.25M sale of Orland Park townhome complex
October 13, 2020

Essex Realty Group facilitated the sale of a new-construction, 16-unit townhome complex located at 10600-10618 Alice Mae Court in Orland Park, Illinois. The buyer, a local investor, purchased the property for approximately $6,250,000 which equates to $390,625 per unit.

The property in this affluent southwest suburb of Chicago is conveniently located just 0.6 miles from the Orland Park 153rd Street Metra Station and within eight minutes driving distance to downtown Orland Park. Essex director Matt Feo represented the buyer.

“These townhomes are a fantastic investment and I congratulate all involved in the deal,” said Feo. “The developers spared no expense when building these elegant 16 units, and as townhomes, they are inherently low-maintenance as there are no common areas.”

Completed in 2019, the property consists of twelve three-bedroom units and four four-bedroom units with private rooftop decks. Each spacious unit contains high-end finishes, in-unit laundry, central air conditioning, walk-in closets and a private balcony. Each unit has an attached two-car garage for a total of 32 heated garage parking spaces.

“Now more than ever we are seeing an increased demand for spacious rental options that give residents a higher quality living experience and a comfortable space to raise a family. These townhomes are the perfect solution to provide that exact experience for residents without all of the other responsibilities that come with traditional homeownership,” Feo said.

The seller, a local developer, was also represented by Director Matt Feo and Essex Principal Doug Fisher.

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.

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Tagged in this post: Doug Fisher, Matt Feo