Lake Zurich Apartments Realize Favorable Return in Sale
Monarch Realty Partners brokered the sale of Somerset by the Lake Apartments, located at 40 & 60 W Main St. in downtown Lake Zurich, IL. Terms of the sale weren’t disclosed.
Constructed in 2019, the property features 48 one- and two-bedroom luxury units with stainless steel appliances, quartz countertops, full size in-unit laundry, central HVAC and private decks or patios. It is adjacent to Breezewald Park along Lake Zurich, which features a sand beach and the Sunset Pavilion and Beer Garden. Bill Baumann of Monarch brokered the transaction.
“The buyer was attracted by the unique opportunity to acquire a stabilized, newer construction rental property in an affluent suburban market,” said Baumann. “The seller, who had owned the property only for a few years, was able to realize a nice return driven through some operational improvements and their ability to increase rents.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).