CHICAGO – Newcastle Limited has acquired 5425 N. Clark, a 3-story, 10-unit apartment building with 2,500 square feet of retail space at the corner of Clark and Rascher in Chicago’s Edgewater neighborhood. This acquisition increases Newcastle’s Andersonville portfolio to 11 buildings including 75,000 square feet of retail/commercial space. Mark Kishtow of Jameson Commercial represented Newcastle in the transaction. Newcastle plans on renovating the apartments with modern finishes and in-unit laundry and retenanting the 2,500 square feet of commercial space.
“This was a great opportunity to buy a corner and expand our retail footprint in Andersonville,” stated Peter Tortorello of Newcastle Limited. “The property was owned by the same family for 45 years so we saw upside in repositioning the retail and renovating the apartments.”
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail and multifamily properties in Chicago. An entrepreneurial investor with institutional backing, the firm can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Mike Haney, CEO, at (312) 252-1401 or visit the company’s website at www.newcastlelimited.com.