Essex Realty Group, LLC closed the Lake & McHenry Collection, a 135-unit multifamily portfolio comprising four separate properties in Grayslake, McHenry, and Island Lake, Illinois.
The assets were exclusively marketed and sold by the firm’s suburban team of Brian Karmowski, Anthony Citrigila, Karla Galva, Jimmy Donahue, and Amir Abdullaev, securing a total sale price of $18.48 million.
The Lake & McHenry Collection included Glen Street Apartments (Grayslake), James Street Apartments and Concord Manor Apartments (McHenry), and Cotton Creek Apartments (Island Lake). All properties were professionally managed and well maintained, bolstering an occupancy rate of 95% or greater and an average renewal increase of 7%.
Each asset exhibited a healthy balance of in-place stability and value-add potential, supported by a healthy suburban rental market, scarcity of comparable inventory, and steady demand for one- and two-bedroom housing across Lake and McHenry counties.
Across all three transactions, the portfolio closed at an average of approximately 95.3 percent of list price, demonstrating the team’s ability to position suburban assets effectively and generate competitive investor engagement.
