ON MARKET – MULTI-FAMILY
3115-3119 Lake Ave. Wilmette, IL 60091
PRICE
$4,300,000
NUMBER OF UNITS
10
CAP RATE
5.79%
PROPERTY LISTED

Two (2) partially renovated units feature new hardwood floors throughout. The remaining four (4) unrenovated units feature varying levels of finish including carpet or hardwood floors, oak or white cabinetry, stainless steel or white appliance packages, granite countertops, individual HVAC, in-unit laundry, and unfinished basements.

LOCATION DETAILS

Essex is pleased to exclusively offer for sale 3115-3119 Lake Ave. ("the Property") located in Wilmette, IL. The Property consists of ten (10) 3Bd/2.5Ba townhomes, twelve (12) garage parking spaces, and twelve (12) surface parking spaces. The units offer residents amenities usually reserved for homeowners including private backyards, garage parking, and basements.

Four (4) out of the ten (10) units have been fully renovated with high-end finishes and finished basements. Updated kitchens include new cabinetry, grey quartz countertops, glass backsplashes, and stainless steel Whirlpool appliances. Bathrooms feature Kohler fixtures, ceramic tile surrounds and floors, new lighting, and vanities. Additional features include hardwood floors, walk-in closets, side-by-side laundry, and individual HVAC with Nest temperature control in renovated units.

DISCLOSURE: THE MANAGING MEMBER OF THE LLC THAT OWNS THE SUBJECT PROPERTY IS A LICENSED REAL ESTATE BROKER IN THE STATE OF ILLINOIS.

HIGHLIGHTS
  • Rarely available, 100% occupied property located in the affluent suburb of Wilmette
  • Unit Mix: (10) 3Bd/2.5Ba townhomes, (12) garage parking spaces, (12) surface spaces
  • Four (4) fully renovated, high-end townhome-style apartments with tenant-paid utilities
  • Proven value-add strategy with significant rental upside for remaining six (6) partially or unrenovated units
  • Cap rate: 5.79% / GRM: 12.26
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852