Property Overview

Westwood Apartments

Interra Realty has been exclusively engaged to market the Westwood Apartments located at 2720-2732 Westwood Drive, Waukegan, for sale. The offering consists of a 132-unit garden-style apartment community located in Waukegan, a northern suburb of Chicago.

The unit mix consists of (132) spacious 2-bed / 1-bath apartments spread across eleven (11) buildings. The units are heated and cooled through individual Magic-PakHVAC units. Each building features common laundry, newer windows, a common hot water tank, and a fire monitoring system. Community amenities include a playground, over 1:1 parking, and an on-site management and leasing office.

A new investor has the rare opportunity to acquire a well-maintained sizable apartment community with immediate rental upside both through proactive leasing and further renovations.

Highlights

  • Last 5 Lease Trades Outs at 32% Rental Increases
  • Attractive Unit Mix – All 2 Bed / 1 Bath
  • Over 1:1 Parking Throughout Complex
  • On-site Management & Leasing Office
  • Value-Add Opportunity
  • Located in Desirable West Waukegan, Lake County

Key Details

Transaction Date
2023
Number of Units
One Hundred Thirty-Two (132)
Submarket
Northern Suburbs