Essex Realty Group, LLC. is pleased to announce the successful sale of the Knox & Kilpatrick Portfolio, a 96-unit apartment portfolio located in Oak Forest. The Portfolio consists of six neighboring buildings featuring 48 studios and 48 one-bedroom units. Current ownership has completed interior renovations on 25 units and exterior improvements, including a new surface parking lot and full balcony replacement in 2025.

Essex’s marketing campaign generated strong investor interest, with buyers citing the property’s well-maintained grounds, quiet setting, and strong in-place cash flow as key differentiators. The fully leased portfolio demonstrated excellent management fundamentals, including a 70% renewal rate and average rental increases of 7.5%. Buyers also recognized the value of recently completed capital improvements, including a new surface parking lot and full balcony replacement in 2025.

The Knox & Kilpatrick Portfolio is ideally located less than one mile from the Oak Forest Rock Island District (RI) Metra station, one block from IL-50, and 2.4 miles from I-57, offering easy access to Chicago and surrounding suburbs.

Oak Forest is a community located roughly 24 miles southwest of downtown Chicago, making it a convenient suburb for commuters. The city, incorporated in 1947, has grown into a vibrant area with access to major highways like I-57 and I-80, as well as the Metra Rock Island District line, which offers a direct route to downtown Chicago. Known for its suburban feel and ample green spaces, Oak Forest is surrounded by Cook County Forest Preserves, providing residents with outdoor recreational activities. The city also has a range of local shops, dining options, and services that contribute to its appeal for families and professionals alike.

Oak Forest is proud of its strong park system and reputable schools. The Oak Forest Park District maintains several parks, including Don Burns and El Morro Parks, where residents can enjoy playgrounds, sports fields, and walking paths. The city also offers recreational programs for all ages. The school system is comprised of multiple elementary and high schools, including Arbor Park School District 145 and Bremen High School, which offers a variety of academic and extracurricular activities for students. Additionally, local higher education institutions, such as Moraine Valley Community College, provide further educational opportunities for the community.

• Multiple Tours & Offers
• Strong Suburban Location - .7 Miles to Oak Forest Metra and One Fifty-Seven Development
• Several Recent Capital Improvements – Including New Surface Parking Lot and Full Balcony Replacement (2025)
• Fully Leased with 70% Renewal Rate and Average Rental Increases of 7.5%