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Essex Lists 96-Unit Chicago Apartment Portfolio
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been exclusively engaged to market for sale a 96-unit apartment portfolio located in the city of Oak Forest.
The portfolio is comprised of six neighboring buildings and has a unit mix of 48 studios and 48 one-bedroom units, as well as 105 surface parking spaces. The properties are located at 15301, 15311, 15302, and 15312 Knox Avenue, as well as 15311 and 15301 Kilpatrick Avenue.
The property is listed by Essex Managing Director Brian Karmowski. “An investor can achieve a going-in cap rate of 6.8% with significant upside,” said Karmowski. “Furthermore, the Village of Oak Forest has recently approved or completed several new development projects that will continue to elevate the area and benefit the future owner of Knox and Kilpatrick Apartments.”
The Knox & Kilpatrick Portfolio is located less than one mile from the Oak Forest Rock Island District Metra station, offering easy access to Chicago and surrounding suburbs.
