Marcus & Millichap has arranged the sale of Orchard Courts Apartments, a 160-unit multifamily community in Kenosha, Wisconsin. The transaction involved private investors on both the selling and buying sides, with the firm holding the exclusive listing to market the asset and also sourcing the purchaser. The property contributes additional traded volume to the Kenosha multifamily sector at a time of sustained investor attention on stable, income-producing assets with embedded growth potential.
Jake Lenti, associate director of investments with Marcus & Millichap, noted that Orchard Courts Apartments drew strong interest from investors. He cited the property’s combination of stable ongoing operations, recent capital improvements and a clear path for future development as key factors supporting demand. These characteristics positioned the community as both a current income play and a potential growth opportunity within the local rental housing market.
The community is located at 985 Wood Road in Kenosha and sits on a sizeable 34.2-acre site. Of that total, approximately 20 acres consist of developable land that offers optionality for future expansion, subject to market conditions and approvals. This land component differentiates the asset from more typical garden-style properties and gives the new ownership the ability to evaluate further projects on a contiguous site.
The property is adjacent to the University of Wisconsin–Parkside, providing proximity to a steady base of students, faculty and staff. In addition, the local market is described as benefiting from major employment growth tied to companies such as Eli Lilly, Microsoft and Uline. This dynamic supports household formation and reinforces demand for rental housing in the area, providing context for the level of investor interest reported during the marketing process.
Lenti, together with Ryan D. Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, handled the assignment. The team exclusively represented the seller and procured the buyer, both described as private investors. While pricing and specific transaction terms were not disclosed, the sale underscores continuing capital flows into multifamily properties that pair stable performance with future development potential on surplus land.
