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Banquet Hall Sells for Retail Redevelopment

CRESTWOOD, IL-Chicago-based Centrum Properties pays nearly $3 million for the 22,600-sf Rosewood West Banquet Hall at 4756 Cal Sag Rd., located on 1.8 acres at Cicero Avenue. The banquet hall will be replaced by a retail center.

By Mark Ruda | Updated on April 26, 2005

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CRESTWOOD, IL-A banquet hall in this southwest suburb will soon be booked by a demolition crew, and ultimately replaced by a retail center. Chicago-based Centrum Properties has paid nearly $3 million for the 22,600-sf Rosewood West Banquet Hall at 4756 Cal Sag Rd., which sits on a 1.8-acre site at the northeast corner of Cicero Avenue.

Property records show the Centrum’s purchase from Houle Enterprises was financed by a mortgage from LaSalle Bank. Houle Enterprises has operated a restaurant and banquet hall at the property for 30 years.

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