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