In the middle of Lake County, between Chicago and Milwaukee, sits a serene, 28-acre property with 33, three-story buildings. Grays Pointe is an apartment home community in Grayslake, Illinois that wears the distinctive Lake County address, which historically outperforms the overall Chicago suburban market.
Address 1900 Country Drive
Total Units 396
Grays Pointe was built in two phases. Today, the complex boasts easy access to the economic hub of Schaumburg, to multiple resident and neighboring employment centers, transportation, and excellent schools, making it one of the strongest submarkets in Chicago’s metropolitan statistical area.
SPNA sought to take advantage of current market conditions and generate value-added returns through the acquisition of all 396 units in the complex. SPNA added 301 units from the property owner to its portfolio, and will invest in the remaining 95 as they become available, to create a full rental community.
Contemporary upgrades were made to the initial 301 units, from new kitchens, new washers and dryers, to wall-to-wall carpeting and patios/balconies. Exceptional improvements were also made to the gardens, landscaping and swimming pools. Common area amenities include tennis courts, playground, clubhouse, and sand volleyball court.