Essex Realty Group, Inc. is pleased to announce the sale of 15 Clay Ave., a twelve-unit apartment building located in the highly coveted North Shore suburb of Highwood. This elevator building was constructed in 2008 and is comprised of eleven (11) 2Bd/2Ba and one (1) 1Bd/1.5Ba unit. These large units feature condo-quality finishes, individual furnaces, water heaters, and in-unit laundry. The Property also features 25 parking spaces consisting of 13 heated garage spaces and 12 outdoor surface spaces.
The Property is situated steps from downtown Highwood and 0.3 Miles from the Highwood Metra Station. The convenient location affords tenants with all the amenities of Highwood within close proximity, including numerous restaurants, shopping, parks, and a highly rated school system.
Essex led an extensive marketing campaign resulting in six offers to purchase the property. The property sold within 95% of the list price to a local investor.
Essex Realty Group, Inc. has been exclusively engaged to market for sale 15 Clay Ave., located in the highly coveted North Shore suburb of Highwood. This elevator building was constructed in 2008 and is comprised of twelve (12) large units – eleven (11) 2Bd/2Ba and one (1) 1Bd/1.5Ba unit. These large units feature condo-quality finishes, individual furnaces, water heaters, and in-unit laundry. The Property also features 25 parking spaces consisting of 13 heated garage spaces and 12 outdoor surface spaces.
The Property is situated steps from downtown Highwood and 0.3 Miles from the Highwood Metra Station. The convenient location affords tenants with all the amenities of Highwood within close proximity, including numerous restaurants, shopping, parks, and a highly rated school system.
15 Clay Ave offers a new owner the ability to acquire a high-quality asset in a phenomenal location. As the enclosed rental survey indicates, current rents are $150-$250 below market, allowing a new owner the opportunity to realize significant increases in returns with minimal work.
- North Shore 12 Unit, 2008 Construction
- As-Is Rental Upside: $150-$250 Per Unit
- Heated Parking Garage (13 Spaces) Plus an Additional 12 Exterior Spaces
- Attractive Unit Mix: 11 - 2Bd/2Ba and 1 - 1Bd/1.5Ba (1,533 SF Avg)
- Steps to Downtown Highwood and 0.3 Miles from Highwood Metra Station.