CHICAGO – Benefiting two of the city’s major institutions, Newcastle Limited has arranged the sale of a surface parking lot owned by the YMCA of Metropolitan Chicago and an adjacent four-story, retail and apartment building to Loyola University Chicago.Totaling $40 million, the pair of acquisitions provide Loyola with a 61,470-square-foot site on the northwest corner of Chicago Avenue and State Street for future expansion.Newcastle represented all three parties in the deal. The transactions expand on Newcastle’s existing relationship with both the YMCA of Metropolitan Chicago and Loyola University.
The firm previously negotiated the YMCA’s sealed-bid offering of the 4.3-acre Rich Port YMCA property in LaGrange and the $10 million sale of its 254-acre Hastings Lake site in Lindenhurst to the Lake County Forest Preserve District.Newcastle also recently represented Loyola in the offering of 4.6 acres on Chicago’s North Side for the Loyola Station project, and previously represented Loyola on the $20 million sale of its 17-acre Mallinckrodt Campus to the Wilmette Park District and the lease of a 24,000 square foot site at Rush and Pearson currently being developed with a 53-story luxury retirement community and space for Loyola.Loyola University Chicago, founded in 1870, is the nation’s largest Jesuit, Catholic university, with an enrollment of more than 15,500 students.
The YMCA of Metropolitan Chicago, founded in 1858, is an inclusive, charitable association dedicated to building strong children, families and communities.
About Newcastle Limited
Newcastle Limited is a Chicago-based real estate owner and advisor serving institutions, corporations and investors. The firm’s advisory services help clients use real estate strategically to achieve their objectives more quickly, at a lower cost, and with less risk. With $500 million in investment capital, Newcastle also purchases urban commercial and multi-family properties throughout the Chicago area. More information is available at www.newcastlelimited.com.