CHICAGO – Newcastle Limited has purchased 504 and 505 N. Green Street, a two-building apartment community in Chicago’s River West neighborhood. John Jaeger and Dan Cohen of CBRE represented the seller in the transaction.
The property consists of two buildings (14 and 4 stories respectively), 13,000 square feet of retail space, a 92-car parking garage, and 227 modern studio, 1-, 2- and 3-bedroom apartments. Building amenities include a rooftop deck with a pool and outdoor kitchen; state-of-the-art fitness center and yoga room; a mix of social and coworking areas; and an on-site Divvy Station. Current retailers include Starbucks, Stax Café, Bank of America, and Athletico.
Located at the northwest corner of Grand Avenue, Milwaukee Avenue and Halsted Street, the property is centered between two of the city's hottest live-work-play neighborhoods, River North and Fulton Market. The buildings are adjacent to the CTA Grand Blue Line Station and several major CTA bus lines.
“The property is a great addition to our growing retail and multifamily portfolio,” said Brennan Hitpas, Managing Director of Newcastle Limited. “The location, quality of the apartments and amenities appeal to urban apartment residents. Demand from residents working in the nearby and fast-growing Fulton Market will be particularly high.”
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 newcastlelimited.com