Essex Realty Group, LLC brokered the $24.3 million sale of Lakeside Village Apartments, a 155-unit garden-style apartment community in Mundelein, Illinois.
Essex Realty Group Principal Brian Karmowski and Director Anthony Citriglia represented both the seller, Bear Peak Capital, and buyer, HMS Apartments, in the transaction.
Situated on approximately eight (8) acres across seven contiguous parcels with frontage on Diamond Lake, the property provides immediate scale, strong occupancy, and a proven value-add opportunity in one of Lake County’s most established suburban rental markets.
Lakeside Village comprises 25 studios, 96 one-bedroom units, and 34 two-bedroom, one-and-a-half-bath units, totaling approximately 110,640 rentable square feet. Community amenities include a clubhouse, business center, on-site laundry, package receiving, a playground, and picnic and grilling areas.
Located approximately 35 miles northwest of downtown Chicago, Mundelein offers convenient access to U.S. Route 45, Illinois Routes 60, 83, and 176, and Interstate 94. The Mundelein Metra station on the North Central Service line, approximately one mile from the property, provides direct service to O’Hare International Airport and Chicago Union Station.
Lakeside Village Apartments will be professionally managed by DMG Management Group (DMG) on behalf of HMS Apartments.
