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.”
- ◦Sale/Acquisition
