New-Construction Downers Grove Multifamily Listed for $8.5M
Essex Realty Group, Inc. has been engaged to market Fairview Station Flats, an 18-unit multifamily property located in the Chicago suburb of Downers Grove, IL. The property is being offered for $8,500,000. Delivered in the fall of 2022, the property consists entirely of large, two-bedroom units ranging in size from 1,062 to1,208 square feet. The ... The post New-Construction Downers Grove Multifamily Listed for $8.5M appeared first on Connect CRE.
Essex Realty Group, Inc. has been engaged to market Fairview Station Flats, an 18-unit multifamily property located in the Chicago suburb of Downers Grove, IL. The property is being offered for $8,500,000.
Delivered in the fall of 2022, the property consists entirely of large, two-bedroom units ranging in size from 1,062 to1,208 square feet. The apartments feature high-end finishes throughout; including quartz countertops, custom soft-close cabinetry, stainless steel appliances and custom backsplash.
Listed for sale by Derek Kaptanoglu and Brian Karmowski, the property represents an opportunity to acquire a new construction, luxury asset at a 5.51% cap rate and 12.75 GRM. “Given the strength of the suburban multifamily market and demand for new construction assets, this is an excellent opportunity for an investor interested in the Chicago suburbs, especially DuPage County,” said Karmowski.
Fairview Station Flats is located a short walk from the Fairview Avenue Metra Station.
The post New-Construction Downers Grove Multifamily Listed for $8.5M appeared first on Connect CRE.
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