Town Chalet is a 24-unit apartment complex on a 50,886-square-foot residentially zoned lot at 422-44 Ridge in Wilmette. The complex’s three buildings each include eight townhome-style, one-bedroom, one-bath apartments. The property sold for $3.2 million.
“Built in 1956, Town Chalet was still owned by the original developer so there was real pride of ownership,” said John Meyer, managing director of Kiser Group. He and Lee Kiser, principal of Kiser Group, represented the seller in the sale. “In addition, its below-market rents and long history of maintaining full occupancy were key selling points.”
“This property also appealed to the buyer because of its large lot size and its highly desirable Wilmette location,” said Sean Connelly, senior managing director of Kiser Group, who represented the buyer in the sale.