Multifamily N Illinois

Newcastle Limited acquires multifamily asset in West Loop

Newcastle Limited acquires multifamily asset in West Loop,ph1

Newcastle Limited has purchased 1245 W. Jackson Boulevard, a newly constructed, four-story multifamily building in Chicago’s West Loop neighborhood. Tyler Hague and Lauren Stoliar of Colliers International represented Newcastle Limited in the transaction.

Developed in 2016, the building consists of 93 apartments averaging 1,025 square feet and a 123-car parking garage. The building features condo-quality finishes, private balconies and a rooftop deck. Located on Jackson Boulevard and Racine Avenue, the property is two blocks northwest of the Racine CTA Blue Line “L” station and close to Rush Medical Center, UIC, Union Station, and access to I-290 and I-90/94.

“We are seeing strong demand for rental apartments in the West Loop from employees of the area’s new corporate tenants. They want to live close to work and have access to great restaurants, entertainment and transportation,’ said Mike Haney, CEO of Newcastle Limited. “All of which make this property another great addition to our West Loop footprint and growing Chicago portfolio.”