CHICAGO-A partner in the Central Station development hassuffered a major financial blow due to the depressed condominiummarket in South Loop, Chicago.
The partner, Forest City Enterprises Inc. recorded an impairmentcharge of $18.3 million in the third quarter of 2010 mainly due tothe impact of sluggish sales in the South Loop condo market. TheCentral Station development has, till date, sold only 49% or 564 ofthe 1,149 condos. For the full story, go to Crain's Chicago Business.
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