Round Lake, IL – August 11, 2020 – Berkadia announced today the sale of Rosewood Apartments, a 170-unit, garden-style multifamily property in the far northwest Chicago suburb of Round Lake, Illinois. Managing Director Ralph DePasquale of Berkadia Chicago led the transaction team on behalf of the seller, Rosewood Apartments Limited Partnership. The deal closed July 1.
Rosewood Apartments sold to Rosewood Harmony Housing, LLC.
“Given the size, location and tranquil, wooded setting of Rosewood, we knew there would be tremendous interest in acquiring the asset,” said DePasquale. “We feel this will be a tremendous long-term asset for the new owner, as it was for the previous owner.”
The Rosewood Apartments were built in 1976 and renovated in 2006. The brick, three-story building features a great mix of one, two and three-bedroom floor plans with private balconies and patios. Located at 216 W Forest Avenue, the property affords convenient access to shopping centers and public transit while still offering a spacious wooded setting with abundant greenspace.