(Read more on the multifamily market.)
CHICAGO-Newcastle Limited, based here, has acquired a 68-unitapartment building at 6900 S. South Shore Dr. for its $500-million investmentplatform in the Chicagoland area. The sales price was $4.7million.
Marcus & Millichap represented the seller, which is listedin public records as 6900 South Shore LLC. Michael Haney, presidentand chief executive officer of Newcastle, says that the seller wasa private owner who had owned the property for approximately 17years. A cap rate was not disclosed.
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