CHICAGO – Newcastle Limited* has acquired its fourth property in the West Town neighborhood this year. The mixed-use property located at 1500 North Damen Avenue was purchased for $13.2 million in an all-cash deal. Baum Realty represented the seller in the transaction.
The corner property has 290 feet of frontage along Damen Avenue and is located two blocks south of the Damen “L” Station and the six-way intersection of North, Milwaukee and Damen Avenues. The property includes two buildings with 18, two-bedroom/two-bath apartments and 18,200 square feet of retail space, along with 52 parking spaces. Retail tenants include PNC Bank, 7-Eleven, Lou Malnati’s, and the Violet Hour.
Newcastle Limited is a Chicago-based real estate firm. Newcastle helps institutions, corporations and investors use real estate strategically to achieve their objectives more quickly, at a lower cost, and with less risk. Newcastle also acquires and develops urban Chicago multi-family and retail real estate. An entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Mike Haney at (312) 252-1401 or visit the company website at www.newcastleinvestors.com.