NOVO Properties Announces New Chicago Acquisition
Chicago, IL, February 3, 2016
NOVO Properties (NOVO) is pleased to announce the acquisition of 6720 South Jeffrey Boulevard, an 82 unit multi-family property located in the South Shore of Chicago.
6720 S. Jeffrey is NOVO’s seventh acquisition locally, bringing the Company’s total unit count in Chicago to 350. NOVO acquired the property from Tricap Properties through an existing loan assumption and a private equity placement.
NOVO Properties plans to relocate their Chicago office to the 1,500 square foot commercial space on the ground floor of the building. Jamie Glascott, Partner, Chicago Region, will be spearheading the move, as well as continuing the effort to grow NOVO’s presence in Chicago.
“This is a great acquisition for NOVO. It continues to expand our presence in Chicago and is our first acquisition in the South Shore neighborhood, an area we have been eyeing for years. 6720 S. Jeffrey is a beautiful vintage mid-rise building just steps from Lake Michigan and Jackson Park,” said Glascott.
For more information about this acquisition, please contact NOVO Properties, Chicago Office at (773) 285-3310, JGlascott@LiveNovo.com or visit the NOVO Properties website at www.LiveNovo.com.
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NOVO Properties is a multi-family owner, developer and property management company headquartered on Capitol Hill in Washington, DC. NOVO currently manages a portfolio of approximately 2,000 apartment units throughout Washington, DC, Chicago, Philadelphia, Charleston and the city of Cambridge on Maryland’s Eastern Shore. NOVO is committed to being a leader in the multi-family industry through our customized management approach, use of industry best practices, dedication to client satisfaction and overall commitment to excellence.