Episteme Luxury Homes is planning a four-story, 39-unit condo building in Chicago's South Loop, DNAInfo reports. The building, at 18th and State Streets, will be a mix of one- , two-, and three-bedroom units. Pending city approval, construction could start this summer, with the building opening 12-18 months after.

This development might signal a bouncing-back of the South Loop condo market post-recession. South Loop especially suffered from "bubble-era condo overbuilding" when, DNAInfo points out, home prices fell 30 percent from 2008 to mid-2012. Developers typically find it less risky to build apartments or less ambitious condo projects.

Asking prices for the State Street condos have not been determined yet.

Source:

Condo Comeback? State Street Project Latest Plan As Developers Test Market [DNAInfo Chicago]