Buyer acquires 224 Chalets and Lodges in Lake Bluff

Deer Valley Apartments

Well, they’re not the kind of chalets or lodges you might be thinking, and they’re not actually in Lake Bluff.

Crain’s Chicago Real Estate Daily reports the sale of Deer Valley Apartments, a 224-unit luxury apartment complex in unincorporated Lake County with a Lake Bluff mailing address. According to some of the mixed reviews at ApartmentRatings, they’re also not luxury apartments.

The Lodge is a 725 square foot 1-bedroom and The Chalet is a 1,050 square foot 2-bedroom, 2-bath plan at Deer Valley. Luxury features include in-unit washers and dryers, and fireplaces in the 2-bedroom units.

The reported sale price of $22 million for the complex pencils out to about $98K a unit. The buyer is expecting to capitalize on rising rent levels in Lake County.

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