Thursday, December 01, 2016

Oak Lawn's Historic Argyle Apartment High-Rise Has a New Owner

The Argyle is one of the longest continually operating apartment buildings in Dallas.Indio Management

A landmark Dallas apartment tower has changed hands.
The 7-story Argyle Apartments opened in 1927 on Oak Lawn Avenue just a block from the Melrose Hotel.
Built for the grand sum of $400,000, the red brick and stone building was described as "one of the finest of the several large modern apartments erected in Dallas in recent years."
With about 50 rental units, the building at Hall Street and Oak Lawn the Argyle is one of the oldest continually operating residential buildings in Dallas. Units in the Argyle range in size from 277-square-foot studio units to 2-bedroom apartments with more than 1,200 square feet.
The building has been sold to a real estate partnership represented by Indio Management, Dallas County deed records show.
Indio's Seth Bame said no major changes are planned for the building.
"We're going to clean up a little bit," Bame said. "We want to keep it eclectic as we got it."
Veritex Community Bank provided a $6.625 million loan on the property, county records show.
Indio Management operates more than three dozen Dallas-Fort Worth residential properties in close-in Dallas and Fort Worth locations.
Written by Steve Brown - Dallas Morning News