Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

Get Chicago News in 150 Words
