Essex Realty Group, Inc. is pleased to announce the sale of a two-building, 108-unit apartment portfolio in the southwest suburb of Oak Lawn. Essex procured 20 tours and multiple offers. The addresses and unit mix for each property are as follows:
– 10409-10435 Menard Avenue, Oak Lawn – 72 Units
– 10300-10320 Parkside Avenue, Oak Lawn – 36 Units
The buildings were converted to condominiums in the mid-2000s. Although each unit has retained a separate parcel number, the current ownership has successfully reconstituted 100% of the units back into rental buildings. The properties have received recent capital improvements including new roofs at 10300 Parkside and 10435 Menard; a new boiler at 10409 Menard; and six (6) new furnaces at 10300 Parkside.
- 108 Unit Portfolio in Southwest Suburbs
- Great Unit Mix: (51) 1Bd/1Ba, (33) 2Bd/1Ba, (24) 2Bd/2Ba Duplex
- Various Recent Capital Improvements
- Significant Rental Upside