Essex Realty Group Sells Pair Of Multifamily Apartment Buildings In Arlington Heights And Wheeling For $1.145M

Essex Realty Group, Inc. has announced the sale of 1217 S. Forums Court and 2256 Nichols Road, two multifamily apartment buildings located in the northern suburbs of Chicago. These properties were sold for a total of $1,145,000. The sale was facilitated by Essex directors Brian Karmowski and Anthony Citriglia, who conducted an extensive marketing campaign that resulted in multiple offers for each property.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,145,000
• Units: 12
• Price Per Unit: $95,417
• Date: 03/08/2021
• Address: 2256 Nichols Road & 1217 S. Forums Court
• Market: Arlington Heights & Wheeling

The local investor who purchased both buildings acquired them from sellers who had owned the properties since 2015 but recently moved out of state. Initially, the sellers only intended to sell 1217 S. Forums Court in Wheeling. However, due to the high level of interest generated by the marketing campaign, they decided to list 2256 Nichols Road in Arlington Heights as well. These properties are part of larger complexes known as Forums Court Apartments and Country Glen Apartments, respectively. Both complexes offer amenities such as tennis courts, a swimming pool, green space, and ample parking for residents and guests. Additionally, the landscaping, snow removal, and garbage collection for these buildings are managed by their respective associations.

The sale of 1217 S. Forums Court and 2256 Nichols Road demonstrates Essex Realty Group, Inc.'s expertise in facilitating the sale of investment real estate in the Chicago metropolitan area.