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New to Market: Foreclosed Loft in Downtown's Elleven

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A party that is not connected to this listing passes on word that "this is a good deal for the neighborhood." But decide for yourself. This is a one-bedroom, one-bath foreclosed loft (950 square feet) in the Elleven building, one of developer South Group's three downtown buildings. It's listed at $312,900 (the previous February sale price refers to a failed attempt at a short sale).
· 1111 S GRAND Ave #1116 [Redfin]