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Newcastle Buys 68-Unit Multifamily Community for $4.7M

July 12, 2007

By Editorial Staff
Multi-Housing News

Newcastle Ltd. has announced that it has acquired a seven-story 68-unit apartment building at 6900 South Shore Drive, adjacent to Chicago's historic South Shore Cultural Center and Golf Course.

Newcastle purchased the property for $4.7 million on behalf of the firm's $500-million Chicago investment platform. Marcus & Millichap represented the seller in the transaction.

Located near Lake Michigan and the South Shore community's scenic Jackson Park, the property offers convenient access to Chicago Transit Authority bus routes, Metra's South Shore commuter rail line and the Chicago Skyway toll road. The building, constructed in the 1950s, features studios as well as one-and two-bedroom units.

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