CBRE has arranged the sale of Bayside Townhomes, a 32-unit multifamily community in Kenosha, with Campbell Creek Communities LLC acquiring the property from Bayside Townhomes LLC for $7.14 million. The transaction involves a 1990s-vintage rental community that is fully leased and positioned near key local amenities.
CBRE professionals Matson Holbrook, Gretchen Richards and Sean Beuche represented the seller in the disposition of Bayside Townhomes. Holbrook noted that investor interest in 1990s-vintage multifamily properties remains solid and highlighted Bayside Townhomes’ competitive position within its local submarket. He also pointed to the availability of attractive assumable debt as a factor that enhanced the appeal of the opportunity for the buyer.
Located at 1523 Sheridan Road, Bayside Townhomes sits close to Carthage College and the Lake Michigan waterfront, offering residents convenient access to nearby educational and recreational destinations. The property is composed entirely of three-bedroom floor plans, with units averaging 1,500 square feet. According to CBRE, the community was 100% occupied at the time of the sale, underscoring the strength of renter demand at this location.
In a statement, a representative of Campbell Creek Communities LLC described Bayside Townhomes as aligning with the firm’s investment approach. The buyer views the property as a well-located, value-add community where fundamentals can be improved over time, with the goal of generating strong returns for its investors. While specific plans were not disclosed, the buyer emphasized an intent to enhance property performance rather than repositioning away from its current multifamily use.
The Bayside Townhomes sale illustrates ongoing capital flows targeting stabilized yet value-add multifamily assets in established residential areas. With full occupancy, larger unit layouts and assumable debt in place, the community offered a combination of current income and potential upside that resonated with private capital seeking opportunities in the Kenosha market.
