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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

“Rarely Available” Townhome Rentals Come to Market

Essex Realty Group has been hired to sell a portfolio of 27 rental townhomes located in Chicago’s affluent suburbs of Wilmette and Winnetka, IL.  Located in three separate rental communities, including 601-17 Park Ave. in Wilmette (pictured), the townhomes offer an alternative for residents seeking the space of a home with the flexibility of a rental.

Seventeen of the units have been fully renovated. The remaining 10 could be renovated using the demonstrated value-add strategy of the seller, who is only the second owner of the properties, according to Essex.

Located in the New Trier school district, all three properties are offered for sale separately. However, they’re owned by the same controlling entity and may be purchased together for $12.3 million.

“There is a short supply of rentals of this size and in these communities,” said Kate Varde, managing director for Essex Realty.  “As a result, properties like these rarely come available in the market.”

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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 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 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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