33 Realty Brokers $18.5M Condo Deconversion Sale in Gurnee, Illinois

GURNEE, ILL. — 33 Realty has brokered the deconversion sale of Deer Creek Condominiums in Gurnee for $18.5 million. Built in 1983, the 198-unit property features one- and two-bedroom units as well as three-bedroom penthouses. Amenities include a pool, fitness center, tennis courts, soccer fields and underground parking. Sean Connelly and John Meyer of 33 represented the seller, Deer Creek Condominium Association. Laramar Group purchased the property, which is 85 percent occupied. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent or more are in agreement.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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