Chicago-based real estate company buys apartment complex in Scottsdale
PHOENIX — It’s called the “Chicago of the West” for a reason.
Rockwell Partners — a real estate company based in Chicago — bought Tatum Place Apartments in Scottsdale for $26.15 million. The property is located near the State Route 51 and Loop 101 freeways.
The 35-year-old apartment complex features 11 two-story buildings with two swimming pools and a fitness center.
Rockwell has a $4 million budget to spend on renovations of Tatum Place. Prior to taking over, Rockwell representatives say the former owner of the property spent over $1 million recently in renovations.
The property was last sold in 2016 for $18.1 million, according to the Kasten Long Commercial Group Weekly Apartment Closing Update.