ON MARKET – MULTI-FAMILY
Winnetka Wilmette Portfolio Wilmette, IL
PRICE
$12,300,000
NUMBER OF UNITS
27
CAP RATE
5.72%
PROPERTY LISTED

Essex is pleased to exclusively offer for sale three properties located in Winnetka and Wilmette, IL. The offering includes five (5) townhomes at 601-617 Park Ave. in Wilmette, IL, twelve (12) townhomes at 700-708 & 726-738 Green Bay Rd. in Winnetka, IL, and ten (10) townhomes at 3115-3119 Lake Ave. in Wilmette, IL. The portfolio also includes thirty (30) garage parking spaces and twenty (20) surface spaces. Additionally, the properties each provide amenities usually reserved for home ownership including private backyards, garage parking, and finished basements in select units.

LOCATION DETAILS

Of the twenty-seven (27) townhomes, seventeen (17) are fully renovated and feature high-end finishes. Renovated kitchens include new white shaker cabinets, glass backsplashes, quartz countertops, new hardwood floors, and stainless steel appliances. Updated bathrooms feature ceramic tile surrounds and floors, new lighting, vanities, and fixtures. Additional highlights include carpeted bedrooms, walk-in closets, in-unit laundry, and individual tenant paid HVAC units. The remaining ten (10) unrenovated or partially renovated units feature varying levels of finish including hardwood floors, individual HVAC, granite countertops, and stainless steel or white appliances.

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 portfolio in affluent suburbs of Wilmette and Winnetka.
  • Unit mix: (2) 2Bd/1.5Ba, (25) 3Bd/2.5Ba, (30) garage parking spaces, (20) surface spaces
  • Seventeen (17) fully renovated, high-end townhome-style apartments with tenant-paid utilities.
  • Proven value-add strategy with significant rental upside for remaining ten (10) units.
  • All three (3) properties are listed separately but are owned by the same controlling entity and may be purchased together, providing immediate and greater scale in Wilmette and Winnetka.
  • Portfolio Cap rate: 5.72% / Portfolio GRM: 12.26
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852