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CHICAGO — Newcastle Limited has acquired 227 East Ontario, a 15,500-square-foot retail property located in Chicago's Streeterville neighborhood. Newcastle plans to add 885 square feet of additional space to the two-story building, which was purchased for $5.9 million, and redevelop the property into a premier retail property. The property was recently vacated by the U.S. Postal Service. Paul Bryant and David Stensby of Mid America Real Estate represented the undisclosed sellers in the transaction. Additionally, Newcastle has retained Mid America to market the redeveloped property.