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Newcastle Snaps Up West Loop Apartments at “Exceptional” Price
Newcastle Limited acquired Jackson Throop Place, a 93-unit luxury apartment building at 1245 W. Jackson Blvd. in the West Loop. Although deal terms weren’t disclosed, Crain’s Chicago Business reported that the seller was Michigan Avenue Real Estate Group, and that the property was appraised for $45.8 million in 2016.
Colliers International’s Tyler Hague and Lauren Stoliar represented Newcastle. “The West Loop remains red hot despite current market headwinds,” said Hague. “Our client was able to capitalize on robust market conditions in the submarket and secured the deal at an exceptional price.”
Mike Haney, Newcastle’s CEO, observed, “We are seeing strong demand for rental apartments in the West Loop from employees of the area’s new corporate tenants. They want to live close to work and have access to great restaurants, entertainment and transportation. All of which make this property another great addition to our West Loop footprint and growing Chicago portfolio.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

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