Newcastle buys Near North Side commercial building for $10M

The three-story retail and office property adds to the firm’s citywide portfolio
By John O’Brien |
Research by Laura Hanrahan
August 14, 2018 01:00PM

CEO Michael R. Haney and the property

Newcastle bought a three-story mixed-use building on the Near North Side, adding to its citywide portfolio.

The Chicago firm bought the building at 1200 North State Street for $10.1 million from a trust, Cook County records show.

The building features a ground-floor retail space occupied by Chase Bank below two floors of offices. It is also marketed as 8 West Division Street.

Newcastle acquires, develops and owns commercial buildings across the city. It recently bought a 2,200-square-foot retail space on the ground floor of the 31-story residential tower at 2 West Delaware Place in the Gold Coast for $11.6 million.

That acquisition came just a few weeks after it picked up a two-story retail building at 2368 North Clark Street in Lincoln Park for $6.1 million.