Essex Realty Group, Inc. has been exclusively engaged to market for sale the Knox & Kilpatrick Portfolio, a 96-unit apartment portfolio located in Oak Forest. The Portfolio consists of six neighboring buildings featuring 48 studios and 48 one-bedroom units. Current ownership has completed interior renovations on 25 units and exterior improvements, including a new surface parking lot and balcony renovations in 2024.
As noted in the enclosed rental survey, current rents are 10%-15% below market as-is, providing immediate rent growth potential with minimal additional work required. The portfolio presents investors with a rare opportunity to acquire scale in a growing suburban market, supported by a strong, stabilized income stream.
The Knox & Kilpatrick Portfolio is ideally located less than one mile from the Oak Forest Rock Island District (RI) Metra station, one block from IL-50, and 2.4 miles from I-57, offering easy access to Chicago and surrounding suburbs.