In 1988, Jerry Fogelson, the chairman of Fogelson Properties, was contacted regarding the sale of 69 acres of property and air rights in Chicago's South Loop.
In June 1989, a formal closing took place and the Illinois Central Railroad deeded the property to the Central Station Limited Partnership
, marking the beginning of what would grow to be a multi-billion dollar real estate complex and Chicago's largest new community.
Teaming with Cleveland-based Forest City Enterprises
along with several architects, builders, designers and real estate professionals, Fogelson's vision began its transformation into a reality.
continued to establish relationships with various developers, and Central Station
began filling up with condominiums, townhouses, and the corresponding infrastructure.
Sales progressed, plans were revised, and additional property was purchased.
development continued to grow and continues to expand today.
Reasons for Success
The extraordinary success of Central Station
did not happen overnight; it's been an evolving process over the past 18 years and has been the result of numerous key factors, according to Fogelson
The developers were determined to find the best use for the 80 acres in a way that benefited both future residents and the city.
This was the beginning that inspired the Central Station master plan.
describes it as "more like designing a small city than a neighborhood.
In order to not only give residents the best possible quality of life but beautify the entire area, every last detail had to be considered, examined and approved.
By creating a guideline plan, it enabled the development to have flexibility, which long-term projects require to ensure success.
Central Station's prime location has also been a key factor in its success, according to Fogelson
"Homebuyers are actually issued a deed at the time of closing that guarantees they will have nothing blocking their view - ever," explains Fogelson
"That's very important to a lot of people.
"No matter what someone is looking for and at what price, we have it," says Fogelson
"We're a very experienced group of people with a great track record and an impeccable reputation," says Fogelson
"We zealously guard it by continually giving the people what they want and treating them right."
A Challenging Road
According to Fogelson
, anyone who has ever built a home has stories they could tell - things that go wrong, arrangements that fall through, stops and starts, and alterations made along the way.
Imagine that multiplied by an entire community.
expects to continue selling and building until 7,500 units plus retail are completed, at a value in excess of $5 billion.