CHICAGO, IL - Rockwell Partners, a leading Chicago-based real estate investment and property management firm, announced today the acquisition of a portfolio of 305 condominium units at Stonegate Condominiums in Glendale Heights, Illinois, approximately 30 miles west of Chicago.
The units acquired by Rockwell include one and two-bedroom condominiums situated within a larger community centered in DuPage County. Property amenities include a clubhouse, fitness center, business center, pool, tennis courts, volleyball court and playground.
The Stonegate Condominiums property is also located in close proximity to the I-355 expressway and Metra’s Union Pacific West Line, and is surrounded by numerous shopping and fine dining destinations, including Stratford Square Mall.
In 2013, Rockwell also purchased Ellyn Crossing Apartments (formerly Stonegate Apartments), a 420-unit apartment community located directly across the street from Stonegate Condominiums.
Rockwell plans to make cosmetic improvements to Stonegate’s units including kitchen, flooring and bathroom upgrades. The company also will take over the property management responsibilities for the property.
“The opportunity to own two properties in such close proximity to each other was very appealing,” said Ted Thilman, a principal of Rockwell Partners. “We expect this will lead to various management efficiencies, and we look forward to enhancing the community and overall living experience for its residents.”
Rockwell Partners is a full-service real estate investment and property management firm founded in 2009. Rockwell concentrates on the redevelopment of multi-family, mixed-use and commercial properties in the Chicago metropolitan area. The company currently manages approximately 2,500 units. Visit www.RockwellPartners.com for more information.