Essex Realty Facilitates $12.2M Sale Of Luxury Townhome Portfolio In Winnetka & Wilmette

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of a portfolio of 27 townhomes in three complexes located in the affluent north suburbs of Winnetka and Wilmette. The portfolio includes five townhomes at 601-607 Park Avenue in Wilmette, IL, 12 townhomes at 700-708 & 726-738 Green Bay Rd. in Winnetka, IL, and 10 townhomes at 3115-3119 Lake Ave. in Wilmette, IL. The properties offer amenities such as private backyards, garage parking, multiple storage spaces, and finished basements in select units. These luxurious townhomes provide tenants with the opportunity to experience high-end, spacious living spaces that are typically not available in the rental market.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $12,225,000
• Units: 27
• Price Per Unit: $452,778
• Address: 601-607 Park Avenue, 700-708 & 726-738 Green Bay Road & 3115-3119 Lake Avenue
• Market: Wilmette & Winnetka

The seller, a local investor, enlisted the services of the multifamily team at Essex Realty Group, including Doug Imber, Kate Varde, Jaimie Steinher, and Dan Shepherd, to exclusively market the townhome portfolio for sale. Essex Realty Group conducted an extensive marketing campaign that generated multiple offers. Ultimately, the portfolio was sold to a local investor for $12,225,000, with each unit priced at $452,778. Notably, the team of Imber, Varde, Steinher, and Shepherd also represented the buyer in this transaction. The sale of this unique portfolio provided investors with an exceptional opportunity to acquire immediate scale and tap into the increasing rental demand in these affluent suburban locations.

Note: Essex Brokers Facilitate Sale of $12M Luxury Townhome Portfolio