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Relaunch of Unsold Central Station Condos Gains Traction

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Curbed dropped in on a preview event for South Loop Luxury by Related last night at the newly-rebranded Harbor View (1901 S Calumet). Amidst nibbles and banter, the sales folks descended with the latest stats on the relaunch of more than 500 condos. Bank of America recruited Related Midwest to rebrand and sell the unsold units across three buildings in the Central Station development. A joint venture involving Forest City Enterprises built the structures but fumbled in the end stages as the market imploded. Two months of new marketing efforts have yielded 55 sales. A so-called "signature" design is being applied to many of the units which will differ from building to building. Other units will be left alone, giving variety to buyers. Harbor View is first to relaunch (prices from the low-200s to mid-500s), with The Adler and The Grant slated for April. With the South Loop condo supply dwindling, we're going to find out soon how much this market has recovered.
·South Loop Luxury by Related [Official]
·Prominent Developer Buys Distressed South Loop Condos, Hopes for Rebound [Curbed Chicago]