JLL Capital Markets has closed an $8 million sale of Highland Chateau, a 60-unit, 1972-built multifamily community in Duluth, Minnesota.
The buyer, PLB Highland Chateau, LLC, was represented by Encompass Real Estate Investment Services.
Completed in 1972, Highland Chateau’s studio, one- and two-bedroom units feature spacious 814-square-foot floorplans, expansive patios/balconies, large windows and beautiful hardwood floors. The community offers its residents garage parking, on-site laundry facilities, a 24-hour fitness center and an expansive courtyard with a grilling and picnic area.
Situated at 822 Baylis St., the property is located next to the Web Woods and Marshall College Preparatory School. The area provides immediate access to downtown Duluth, Canal Park, Miller Hill Mall and the hospital. Additionally, the property is positioned between Duluth’s University of Minnesota Campus, College of St. Scholastica and Lake Superior College.
To the south of the property sits the recently sold and demolished Central High School site, which has plans to be redeveloped into an expansive mixed-use community with views over the lake.
The JLL Capital Markets Investment Sales and Advisory team representing the seller, Sherman Associates, was led by Director Devon Dvorak, Managing Directors Mox Gunderson, Dan Linnell, Josh Talberg and Senior Director Adam Haydon.
