TLC Management Acquires Ravenswood Terrace Apartments on Chicago’s North Side for $46M

CHICAGO — TLC Management has purchased Ravenswood Terrace Apartments, a multifamily property located at 1801 W. Argyle St. on Chicago’s North Side, for $46 million.

Built in 2014 by Chicago-based Belgravia Group, the 150-unit property was recapitalized in 2016 when Washington, D.C.-based The Carlyle Group acquired a majority interest in the asset. The community features a clubhouse, fitness center, rooftop deck, community garden and courtyards. The property is 7.5 miles north of downtown Chicago and approximately 2.5 miles north of Wrigley Field.

Bill Baumann of Monarch Realty Partners represented the buyer in the deal, which represents the highest value multifamily transaction in the Ravenswood neighborhood, according to CoStar.