MultifamilySold
Embassy Apartments
Mundelein, IL
Seventy-two apartments in two-story garden buildings on South Shaddle Avenue in Mundelein, built in 1972.
Photographs
Realized results
Acquired
We bought it in August 2021: 72 apartments in two-story garden buildings in Mundelein, built in 1972.
Executed
We renovated the unit interiors and repositioned the rent roll while occupancy held in the mid-nineties.
Exited
Sold in June 2023 for $10.0 million, a realized cap rate of 6.36%.
19%
Realized Gross IRR
1.37x
Realized Equity Multiple
$10M
Sale Price
2021–2023
Held
Location
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