Related Midwest announced the official launch of sales at the South Loop Luxury by Related, a collection of 500 re-imagined residences across three buildings. Demand for this opportunity has been strong prior to the official sales launch, with 40 residences already sold in seven weeks.
Since taking over the three South Loop residential towers last year, Related Midwest has applied its acclaimed commitment to excellence by re-envisioning and re-branding the properties. The collection of buildings, now referred to as South Loop Luxury by Related, includes The Grant, located at 1201 South Prairie Avenue; Adler Place, located at 1629 South Prairie Avenue; and Harbor View, located at 1901 South Calumet Avenue.
Strong Enthusiasm for South Loop Luxury by Related
The strong sales numbers in the South Loop Luxury by Related collection were reported today by Gail Lissner from Appraisal Research Counselors at the organization’s Benchmark Report luncheon. Appraisal Research also indicated that new condominium product inventory is extremely limited, with less than 1,000 units available in all of downtown Chicago.
“We are excited to officially launch sales for South Loop Luxury by Related, and share our vision for this unique collection of residences,” Curt Bailey, president of Related Midwest, said. “We have already seen tremendous interest and are thrilled to have 40 units sold, even prior to our sales launch. Reaching this milestone without the benefit of any advertising speaks volumes about the desire people have to live in the South Loop.”
There are currently 500 residences available across the three properties, including over 200 unfinished white box units that Bailey noted gave Related the opportunity to completely re-envision the residential offering in the collection.
According to David Wolf, President of Sales for Related Midwest, the interest in the properties represents a pent-up demand for well-designed, quality homes in the South Loop.
“When buyers see the enhancements we have made to these ideally located properties, there is understandably a lot of enthusiasm,” Wolf said. “We are attracting buyers who love the South Loop, want to live and buy in this neighborhood, and have been waiting for the right opportunity at the right time in the market. And with the diversity of unit types, location and price points available, we’re able to appeal to a broad spectrum of buyers.”