Essex Realty Group, LLC is pleased to announce the sale of Glen Street Apartments, a 40-unit multifamily property located at 145-185 Glen Street in Grayslake, Illinois.
Built in 1984, Glen Street Apartments features a unit mix of one-, two-, and three-bedroom floor plans, with 90% of the units being two-bedrooms. The property also includes a leasing office. Recent capital improvements include a newly paved parking lot and a full concrete catwalk replacement, enhancing the appeal and functionality of the asset.
Glen Street Apartments is situated in a quiet residential pocket just south of Grays Lake and is within walking distance of the Metra train station, downtown Grayslake, and local schools. The property also benefits from proximity to Jones Island Park and the College of Lake County, offering tenants convenient access to both recreational and educational amenities.
Throughout the marketing process, the property garnered strong interest from prospective buyers, reflecting the continued demand for well-located suburban multifamily assets. This transaction represents the largest multifamily sale, and only the second multifamily sale in Grayslake in the past four years.
Lake County, Illinois, located just north of Chicago, offers a balanced mix of suburban convenience, economic opportunity, and natural beauty. With strong transportation infrastructure, including I-94, U.S. Route 41, and multiple Metra lines, the area provides easy access to downtown Chicago and has become a popular choice for commuters. The county features a variety of residential communities, busy commercial centers, and large green spaces, making it an appealing place to live and work.
The county is also known for its excellent public schools. Several high schools, such as Adlai E. Stevenson in Lincolnshire, Vernon Hills High School, and Barrington High School, have earned top marks and A+ ratings from Chicago Parent. U.S. News & World Report ranks six Lake County high schools among the top 20 in Illinois, which makes the area especially attractive to families focused on strong education.
In addition to education, Lake County offers plenty of outdoor and recreational options. It has more than 30,000 acres of forest preserves, a wide range of lakes, and an extensive network of trails for hiking, biking, and exploring. Popular spots like Independence Grove, Illinois Beach State Park, and Chain O’Lakes State Park are enjoyed year-round. Combined with ongoing infrastructure improvements and commercial growth, Lake County continues to stand out as a desirable place to call home.
- Closed at 98% of List Price
- 15+ Tours and Multiple Offers
- Well-Maintained Asset: Stable Building with Long-Term Ownership Prior to Sale
- Proven Value-Add Potential: Nearly 15% Upside in Rents at Time of Sale
- Recent Capital Improvements: New Parking Lot and Full Concrete Catwalk Replacement Completed