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Chicago & Midwest  + Downtown  |  June 3, 2019
Paul Bubny
By: Paul Bubny

Mid-America Brokers Gold Coast Sale to Newcastle

Mid-America Real Estate Corporation’s investment sales team recently brokered the sale of 1206-1212 N. State St. in Downtown’s Gold Coast neighborhood.

The 10,000-square-foot building sold for $10 million to Chicago-based Newcastle Limited, which plans to build an apartment property on the site and adjoining parcel at 1200 N. State St. Newcastle revealed plans for the 11-story residential property this past April.

At nearby 1120 to 1130 N. State St., Newcastle plans a 39-story apartment tower on the site of one of the last Barnes & Noble stores in the city.

1206-1212 N. State features a 10,416-square-foot development site that has been owned by a private family trust for more than 100 years.

Chicago-based Mid-America principals Joe Girardi and Stan Nitzberg, and associate Emily Dutson, were the exclusive brokers in the transaction on behalf of the private seller.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Sale/Acquisition