CHICAGO-Newcastle Ltd., an investment firm based in Chicago, has recently bought an apartment building in the Lakeview neighborhood for $4.1 million. The firm has plans to renovate the entire 29-unit property.
Property records reveal that the apartment building was sold by a venture of George Bahramis, a real estate investor based in Glenview. National City Bank, which provided a $5.3-million loan in May 2007 to the venture, filed a foreclosure lawsuit in July 2009. Newcastle purchased the property in a sheriff's sale. For the full story, go to Crain's Chicago Business .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.