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Development Watch: Loyola

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Info is a bit scarce at this point, but a prominent surface lot on Loyola's downtown campus could eventually be history. Crain's is reporting that Chicago-based real estate firm Newcastle Ltd., normally in the business of acquiring existing properties, is seeking to construct a rental building of an unspecified height at the southeast corner of State and Chestnut. The vacant lot is just a block from the future site of Loyola's new nine-story business school, made possible by a $40M gift from an alum. With the project still in the early planning phase, Newcastle hasn't been very forthcoming, though one expert surmises that student housing is a strong possibility. Stay tuned! [Crain's by subscription]