News in Brief

Centrum lofts forced to go rental

Under pressure from its lenders, developer Centrum Properties Inc. said Friday it is converting its South Loop residential complex from condominium units to rentals. The change involves the 342-unit Lofts at Roosevelt Collection complex at 150 W. Roosevelt. A lack of condo sales will force Centrum to return deposits to people who bought units. Sources said lenders led by Bank of America Corp. demanded the switch. Centrum said apartments will be available for Sept. 1 occupancy, with one-bedrooms listed at $1,375 a month and two-bedrooms at $2,300 a month.

Jobless rate, layoffs down

It's the clearest sign yet the recession is finally …