UNDER CONTRACT – MULTI-FAMILY
40 & 60 West Main Street Lake Zurich, IL 60047
PRICE
Call for details
NUMBER OF UNITS
48
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale Somerset By The Lake, a 48-unit new construction property located in one of Chicago’s desirable northwest suburbs, Lake Zurich.

The apartments are spacious 1 bed/1 bath and 2 bed/2 bath units featuring premium plank flooring, stainless steel appliances, white modern cabinetry, quartz countertops, full size in-unit laundry, walk-in closets, central HVAC, and a private patio or balcony.

Somerset By The Lake presents the unique opportunity to obtain a new construction apartment complex adjacent to Breezewald Park, which features a sand beach, swimming, and the new Sunset Pavilion and Beer Garden.

Less than a mile away at West Main Street and South Rand Road is where the Village’s main shopping and dining can be found, including Jewel-Osco, Panera Bread, Trader Joe’s, T.J. Maxx, Giordano’s and more. Other nearby attractions include Paulus Park, Copper Fiddle Distillery, Roaring Table Brewing, the Lake Zurich Golf Club and Regal 12 Theatre. Lake Zurich is conveniently located 35 minutes from O’Hare International Airport.

LOCATION DETAILS

RICH HISTORY: The Village of Lake Zurich was incorporated back in 1896 and features around 20,000 residents. The Village is a charming residential community with a small-town feel and was rated number one for young families in Illinois by financial website, NerdWallet.com. Located approximately 40 miles northwest of Downtown Chicago, Lake Zurich provides residents the option to commute into the city or work locally, as several of Illinois’ Fortune 500 company headquarters are located in nearby suburbs.

PRIME LOCATION: Somerset By The Lake sits in a prime location within Lake Zurich. The property is adjacent to Breezewald Park, a park along the shore of lake featuring a sand beach and the new Sunset Pavilion and Beer Garden. Less than a mile away at West Main Street and South Rand Road is where the Village’s main shopping and dining can be found, including Jewel-Osco, Panera Bread, Trader Joe’s, T.J. Maxx, Giordano’s and more. Other nearby attractions include Paulus Park, Copper Fiddle Distillery, Roaring Table Brewing, the Lake Zurich Golf Club and Regal 12 Theatre. Lake Zurich is conveniently located 35 minutes from O’Hare International Airport.

HIGHLIGHTS
  • $227,000 Per Unit
  • 5.70% Current Cap Rate
  • 6.79% Cap Rate at Market Rents
  • Average Rent Per Square Foot = $1.44
  • 48 Apartments & 88 Surface Parking Spaces
  • Adjacent to Lakefront and Beautiful Breezewald Park
LISTING BROKERS
Jordan Gottlieb
Principal
773.305.4922
Jim Darrow
Principal
773.305.4920