Fairbanks at Cityfront selling half its condos as 2nd homes

With interest rates on the rise and talk of a housing bubble rampant, the speculation has been that investors – a category that includes purchasers of second homes – are easing out of the market. Not according to Centrum Properties. The developer reports that more than half of sales so far at its three-tower Fairbanks at Cityfront Plaza project, 240 E Illinois St, have been to buyers of second homes. Most of the more than 70 units bought as second homes have gone to empty nesters looking for downtown pads, according to Centrum.