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170-Unit Lake Worth Gardens Moves to Chicago-Based Firm

MIAMI-The retirement facility, currently 94% occupied, carried a price tag of $6.8 million.

By Melissa Bogdany | Updated on September 05, 2002

MIAMI-Lake Worth Apartments LLC has sold Lake Worth Gardens, a 170-unit independent living retirement facility, to Lake Worth Gardens Community LLC for $6.8 million. The property, located 3927 Hadjes Dr., in Lake Worth, FL, consists of two courtyard buildings on 7.29 acres. The estimated unit value, according to the Palm Beach County property appraiser’s office, is $10,000.

Also according to the property appraiser’s office, Lake Worth Apartments LLC bought the facility in August 2000 for $8.35 million. The facility is currently approximately 94% occupied.

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