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Loyola Buys $40M Sites for Future Expansion

CHICAGO-A fully-leased, four-story residential and retail building, and parking lot, is being purchased adjacent to the university's Water Tower Campus.

By Gina Kenny | Updated on April 01, 2008

CHICAGO-Loyola University has acquired two properties adjacent to Loyola’s Water Tower Campus. The two parcels were bought for $40 million. The two sites include a four-story residential and retail complex at 800-04 N. State St. and 4-10 W. Chicago Ave., and a parking lot adjacent to the property, says Mike Haney, president and CEO of Chicago-based Newcastle Limited.

The YMCA of Metropolitan Chicago sold the parking lot. The seller of the retail and apartment building was a private investor group based in Chicago, Haney tells GlobeSt.com.

“Loyola is located across the street from these properties” and acquired the properties “so it has the opportunity to grow its campus in the future,” Haney says. The university, which was founded in 1870, has enrollment of more than 15,500 students.

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