Essex Realty Group, Inc. secured a buyer for this 48 unit garden complex after a highly competitive marketing process resulting in multiple tours. The property went under contract within 30 days of listing.
The property contains six (6) buildings with eight (8) units each. The unit mix consists of twenty (20) 1Bd/1Ba and twenty-eight (28) 2Bd/1Ba units.
Capital improvements to the property in the last five years include: new tear-off roofs, new windows, parking lot, conversion from gas to electric heaters, landscaping, and exterior paint. The interiors have been updated with vinyl floors and newer kitchens and baths.
Centrally located in the heart of Crystal Lake, the property’s location affords tenants easy access to many of Crystal Lake’s amenities such as The Commons of Crystal Lake, Crystal Point Mall Shopping Center, McCormick Park, and is a short distance from the areas greatest attraction, the Three Oak Recreation area. Three Oak is situated on multiple lakes and features hiking paths, a beach area, and boat rentals. The subject property is just one mile away from the Crystal Lake Metra Stations and is a short commute to McHenry County College, which currently has an enrollment of over 7,000 students.