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Historic downtown apartments under new ownership, will get new look

New owners of the Furlow, Raymond and Zick apartment buildings say they want to bring back the history and character of the old buildings.

Black Swan Rentals
Original milk and ice delivery doors are seen in the hallway of the Furlow apartment building in Rochester. Furlow was recently purchased by Black Swan Real Estate.
Traci Westcott / Post Bulletin
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ROCHESTER — Three historic downtown Rochester apartment buildings are under new ownership and will undergo renovation.

Furlow, 508 Fourth St. SW, built in 1926, and neighboring Hamilton Apartments built in 2010, were acquired by Hamilton Furlow Assets LLC, for just more $5 million in December.

Raymond Apartments , 23 Seventh Ave. SW, built in 1921, was acquired by Raymond Asset LLC for $2 million the same month.

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In October, Zick Apartments , 603 First St. NW, built in the 1940s, was acquired by Zick Asset Management LLC in October.

The limited liability companies are owned by Rochester Realtors and developers Nick and Dr. Elaine Stageberg. The Stagebergs’ Black Swan Living Property Management. Their plans are to renovate and restore much of the historic character of each of the buildings.


Work is already underway at the Zick Building. Work is just beginning in the Furlow and Raymond where contractors are conducting what Nick Stageberg describes as “archaeology” of peeling back layers of buildings that are about 100 years old.

John Molseed joined the Post Bulletin in 2018. He covers arts, culture, entertainment, nature and other fun stories he's surprised he gets paid to cover. When he's not writing articles about Southeast Minnesota artists and musicians, he's either picking banjo, brewing beer, biking or looking for other hobbies that begin with the letter "b." Readers can reach John at 507-285-7713 or
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