January 23, 2019
Essex Realty Group has been hired to sell a portfolio of 27 rental townhomes located in Chicago’s affluent suburbs of Wilmette and Winnetka, IL. Located in three separate rental communities, including 601-17 Park Ave. in Wilmette (pictured), the townhomes offer an alternative for residents seeking the space of a home with the flexibility of a rental.
Seventeen of the units have been fully renovated. The remaining 10 could be renovated using the demonstrated value-add strategy of the seller, who is only the second owner of the properties, according to Essex.
Located in the New Trier school district, all three properties are offered for sale separately. However, they’re owned by the same controlling entity and may be purchased together for $12.3 million.
“There is a short supply of rentals of this size and in these communities,” said Kate Varde, managing director for Essex Realty. “As a result, properties like these rarely come available in the market.”
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