KIG CRE markets Elmhurst Terrace Apartments, will fetch upwards of $50M October 11, 2017 Share on Facebook Share on Twitter Share on LinkedIn Share via email Elmhurst Terrace Apartments, owned by Horizon Realty Group, has been listed for sale by Chicago-based KIG CRE. The 315-unit, institutional-grade asset was listed unpriced, will sell for upwards of $50 million, according to KIG CRE. “This is the first institutional-grade asset to hit the market in Elmhurst,” Susan Tjarksen, KIG CRE’s Principal and Managing Broker said in a statement. “The last sale of a building larger than 100 units was when Horizon Realty Group originally bought Elmhurst Terrace in 2001.” Currently, the property is 89 percent leased and has a mix of studio, convertible, one-bedroom and two-bedroom units. The building offers residents a fitness center, laundry facilities, barbecue and picnic area, covered parking, package receiving and on-site management. Units feature generous floor plans, hardwood floors and spacious closets. “This is a rare value-add investment opportunity because there are only three market-rate properties in Elmhurst with over 100 units.” Todd Stofflet, Managing Partner at KIG CRE said in a statement.