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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

Grayslake Apartments Trade After Long-Term Hold by Builder

Colliers International | Chicago has arranged the $6.55-million sale of Brittany Square Apartments, an 83-unit apartment complex in Grayslake, IL. The firm’s Jack Maloney and Tyler Hague represented longtime family owner Jim Freese in the sale to an undisclosed buyer.

“This was a tremendous value-add opportunity,” said Maloney. “The property was off-market and this allows the Freese family, who built the property in 1974, to capitalize on strong market conditions in the area.”

Maloney added that the buyer plans to continue unit upgrades and add additional amenities. “With 25% of the units already renovated, the seller capitalized on market demand for improved units, allowing for a great deal of upside in this property,” he said.

The two-story property includes 62 one-bedroom and 21 two-bedroom apartments. The buyer plans to add a dog park and basketball court. Renters will also have the option to add on-site storage and covered parking.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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