KIG has been retained for three separate sales comprising more than 1,100 apartments in Kentucky, Wisconsin and Illinois.
The listings in Illinois include a three-property portfolio totaling 408 units in Gurnee, Illinois, Madison, Wis., and Janesville, Wis.; and a two-property portfolio comprising 516 units in Waukegan, Ill. The properties are being marketed without an asking price.
Illinois-Wisconsin portfolio
This three-property portfolio, with a total of 408 apartments, includes 136 units in Gurnee, Ill.; 96 units in Janesville, Wis.; and 176 units in Madison, Wis. The three assets may be purchased as a portfolio or individually and include Fannie Mae financing that can be assumed.
4344 McClure Ave. – Gurnee, Ill. (part of the IL-WI portfolio)
Carriage House Apartments, 4344 McClure Ave., is a 136-unit, garden-style community of 17 buildings on 10 acres. The community consists of 134 one-bedroom apartments and two two-bedroom units, with on-site amenities including an outdoor pool and pool house, picnic area, in-building laundry, and resident storage lockers.
The community is less than 45 miles from downtown Chicago and 30 minutes from O’Hare International Airport.
1601 N. Randall Ave. – Janesville, Wis. (part of the IL-WI portfolio)
Park View Apartments, 1601 N. Randall Ave., is a 96-unit apartment community offering a mix of one- and two-bedroom units. Average monthly rent is $550, including utilities.
Community amenities include an on-site laundry facility, community room with kitchen and big-screen TV, elevators, storage, and a bike room.
Located near I-39/I-90, Park View is approximately 45 minutes from Madison and less than 90 minutes from both Milwaukee and O’Hare International Airport.
6701 Schroeder Road – Madison, Wis. (part of the IL-WI portfolio)
Waterleaf Apartments, 6701 Schroeder Road, comprises 176 garden-style apartments, including a mix of one-, two- and three-bedroom floor plans.
Situated on 6.5 acres, the community includes 11 residential buildings, each with their own laundry and storage facilities. Community amenities include an on-site playground and picnic area, with plans in place to construct a new leasing office and resident clubhouse with an outdoor pool.
Waterleaf Apartments is located one mile south of West Towne Mall and just a few miles from the University of Wisconsin-Madison.
Two-property portfolio: 336 N. Green Bay Road & 3060 Kathe Lane – Waukegan, Ill.
This portfolio of two apartment complexes in Waukegan, Ill., offers a total of 516 units.
Briarwood Apartments, 336 N. Green Bay Road, is a 284-unit community of 18 California-style buildings with a mix of one- and two-bedroom units on 17 acres.
Upgrades to 75 percent of the units include new flooring, updated baths, and renovated kitchens with refinished cabinets, new countertops and tile backsplashes, and modern appliances. Community amenities include an outdoor pool, basketball court, playground and grass courtyards.
Heritage Green Apartments, 3060 Kathe Lane, is a 232-unit community comprising 18 buildings with one-, two- and three-bedroom units. Situated on 14.8 acres, all buildings have laundry facilities and an extra storage locker for each unit. Amenities include a clubhouse, outdoor pool, tennis courts, basketball court and multiple recreation areas for children.
The portfolio has market-rate, long-term, assumable financing.
The properties are minutes from Route 41 and I-94, and equidistant from Chicago and Milwaukee. The Gurnee Mills Shopping Center, Illinois’ largest retail outlet mall, is just six miles from the communities. Also nearby is the popular Six Flags Great America, one of the region’s only destination theme parks, which attracts millions of visitors each year.
