Essex Closes Multifamily Sale in Grayslake

Essex Realty Group has completed the sale of the Glen Street Apartments at 145-185 Glen Street, located in the village of Grayslake, approximately 50 miles north of downtown Chicago.

Brian Karmowski, Principal at Essex represented both the buyer and seller of the transaction. The property attracted significant interest from prospective buyers, ultimately selling for $5.82 million. The transaction is the largest sale, and only the second multifamily sale in Grayslake in the last four years.

Built in 1984, the property consists of 40 units, and ownership has recently made significant capital improvements, including a new parking lot and a full concrete catwalk replacement. Glen Street Apartments is located within walking distance of the Metra train station, downtown Grayslake, and local schools, providing tenants with easy access to transit and nearby amenities. Additionally, Jones Island Park and the College of Lake County are just a short drive away.