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South Loop Luxury by Related Enters Final Phase of Sales
Oct 22, 2014
Related Midwest continues to lead rebirth of Chicago’s condo market
(CHICAGO) October 22, 2014 – A year and a half after relaunching sales at South Loop Luxury by Related, a collection of 500 condominiums across three towers in the South Loop, Related Midwest announced it has sold 400 units in just over 18 months, with only 100 of the original 500 residences remaining. South Loop Luxury by Related represents three previously-stalled condo buildings that Related Midwest reimagined in 2013, when Chicago’s condo market was showing little signs of recovery. As a result of the overwhelmingly positive response from buyers, Related Midwest has released an assortment of previously reserved units across the collection, which comprises The Grant, Adler Place and Harbor View – all immediately west of Chicago’s famed Museum Campus. The newly released residences, which include a mix of standard units, as well as townhomes, penthouses, and two 4,000-square-foot “white box” units. “When we launched South Loop Luxury by Related in 2013, we saw a unique opportunity to lead the charge in rejuvenating Chicago’s condo market,” said Curt Bailey, president of Related Midwest. “Since starting sales last year, when the units accounted for nearly half of downtown Chicago’s unsold condo inventory, we’ve been able to significantly boost values in the South Loop.”
While South Loop Luxury by Related is 80-percent sold across all three properties, a variety of homes are still available at each building. At Harbor View, remaining units include a mix of condos priced from $266,000.
Buyers can also choose from a selection of four-story townhomes connected to the tower. Priced at $718,000, the 2,400-square-foot townhomes feature three bedrooms, two full baths and two half baths, an open living/dining room with fireplace connected to the kitchen, a den, a recreation room and four outdoor areas. Townhome residents can enjoy a balcony off one of the secondary bedrooms, a master suite terrace, as well as a fourth-floor terrace connected to the recreation room. All townhomes also have a private entrance and small yard at street level, plus a separate entrance that leads into the Harbor View tower. The townhomes are fee simple and also include two parking spaces in the tower’s heated garage.
“Harbor View townhomes give buyers an exceptional opportunity to enjoy the best of both worlds – the space and privacy of a townhome coupled with access to a full suite of luxury building amenities, whether it be the private fitness center or outdoor pool and sun deck,” said David Wolf, president of Related Realty, which is managing sales of the South Loop units. “It’s unlike any other new-construction townhome in the South Loop.”
The newly released units also include a number of residences at The Grant, with prices starting at $462,000. All units feature private balconies and floor-to-ceiling windows offering sweeping views of Grant Park, Lake Michigan and the Chicago skyline. Residents also have access to a number of amenities in the building, including an indoor pool, reservable entertainment suite and a children’s playroom.
Buyers can choose from two finish packages in the South Loop Luxury by Related buildings: Signature Residences, which were designed by Related to reflect a contemporary urban style, and Classic Residences, which feature more traditional luxury finishes.
“With a such a diverse mix of floor plans and price points, the South Loop Luxury collection continues to offer buyers the best assortment of new-construction condos in downtown Chicago,” said Bailey.
For more information on the South Loop Luxury by Related collection, visit www.relatedsouthloop.com or call the Related Realty Sales Team at (312) 662-1900. The sales center for the South Loop Luxury by Related Collection, located on the 23rd floor of The Grant (1201 S. Prairie Ave.), is open Saturday and Sunday from 12 to 4 p.m. and by appointment Monday through Friday.
About Related Midwest
Related Midwest, the Chicago office of Related Companies, is the preeminent developer of luxury condominium and rental homes, affordable housing communities and mixed-use properties in Chicago. Recognized for its innovative, market-defining developments, Related Midwest has reshaped luxury living in downtown Chicago through its two high-end apartment projects: 500 Lake Shore Drive and OneEleven. The firm is also marketing South Loop Luxury by Related, three marquee South Loop condominium properties. Among Related Midwest’s successes in the downtown Chicago area are The Residences on Lake Shore Park (comprising 840 Lake Shore Drive, The Pearson, and The Belvedere), the Park Hyatt Hotel and Park Tower Condominiums at 800 N. Michigan Ave., and 340 on the Park at 340 E. Randolph St., the first LEED Silver residential tower in the Midwest.