**Essex Realty Group Closes $5.82M Multifamily Sale in Grayslake**
Essex Realty Group has announced the successful sale of the Glen Street Apartments, located at 145-185 Glen Street in the village of Grayslake, Illinois, approximately 50 miles north of downtown Chicago.
The transaction was overseen by Essex Principal Brian Karmowski, who represented both the buyer and seller. The property garnered strong interest from prospective buyers and ultimately sold for $5.82 million. This marks the largest multifamily sale — and only the second of its kind — in Grayslake within the past four years.
Originally constructed in 1984, Glen Street Apartments comprises 40 residential units. The property has undergone substantial capital improvements in recent years, including the installation of a new parking lot and a complete replacement of the concrete catwalk.
Strategically situated within walking distance of the Metra train station, downtown Grayslake, and several local schools, the property provides tenants with convenient access to transportation and community amenities. Jones Island Park and the College of Lake County are also located just a short drive from the complex.
This notable transaction underscores continued investor interest in quality suburban multifamily assets in the greater Chicago area.
