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1-100 N Macgillis Dr 220 Unit Apartment Building $59,500,000 ($270,455/Unit) 6% Cap Rate Round Lake, IL 60073
INVESTMENT HIGHLIGHTS
- Community is Nestled into the Forest
- Replaced 13 Ground Decks in April 2020
- Playground On-Site
- Adjacent to Bright Meadows Park & Nippersink Forest Preserve
- New Gutter Guards Throughout the Subdivision
- All Units Include Balconies and/or Patios
EXECUTIVE SUMMARY
33 Realty is pleased to present for sale, as a de-conversion opportunity, Treehouse in the Wood Condominium located in Round Lake, IL. Tucked away in the forest, the property spans 27.5 acres and offers approximately 329,096 square feet of space.
Built in 1996, the property consists of 8 two-bedroom, one-bathroom condos, 20 two-bedroom, one-and-a-half bathroom condos, 16 two-bedroom, two-bathroom condos, 37 three-bedroom, one-and-a-half bathroom townhomes, 46 three-bedroom, two-bathroom townhomes, and 93 three-bedroom, two-and-a-half bathroom townhomes. Amenities include attached garage parking, balconies, playground, in-unit washer/dryer hookups, private storage, and a short drive to the Round Lake Metra stop.
Treehouse in the Wood Condominium presents an excellent opportunity to add value by bringing the consistency and efficiency of a single ownership group to the property. In a highly desirable location, Treehouse in the Wood Condominium has great potential to raise rents to market levels as units become available.
Built in 1996, the property consists of 8 two-bedroom, one-bathroom condos, 20 two-bedroom, one-and-a-half bathroom condos, 16 two-bedroom, two-bathroom condos, 37 three-bedroom, one-and-a-half bathroom townhomes, 46 three-bedroom, two-bathroom townhomes, and 93 three-bedroom, two-and-a-half bathroom townhomes. Amenities include attached garage parking, balconies, playground, in-unit washer/dryer hookups, private storage, and a short drive to the Round Lake Metra stop.
Treehouse in the Wood Condominium presents an excellent opportunity to add value by bringing the consistency and efficiency of a single ownership group to the property. In a highly desirable location, Treehouse in the Wood Condominium has great potential to raise rents to market levels as units become available.
PROPERTY FACTS
| Price | $59,500,000 | Apartment Style | Garden |
| Price Per Unit | $270,455 | Building Class | C |
| Sale Type | Investment | Lot Size | 17.39 AC |
| Cap Rate | 6% | Building Size | 329,096 SF |
| No. Units | 220 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1996 |
| Property Subtype | Apartment |
| Price | $59,500,000 |
| Price Per Unit | $270,455 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 220 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 17.39 AC |
| Building Size | 329,096 SF |
| No. Stories | 2 |
| Year Built | 1996 |
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1-100 N Macgillis Dr
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