51 replies to this topic

[UberAlles]

Here's the latest overview. You can visit Harry R. Carmichael's photo album for one almost every day.
http://picasaweb.goo...LSDCSHeli2008q1
They are down 50 feet where they will stop for a while to drill 20 more caissons. then continue down to about 75 feet.

Edited by UberAlles, 12 January 2008 - 11:03 PM.

[UberAlles]

Looks like they will continue to excavate before drilling the 20 caissons.

[ChiDC]

Before this, according to press releases, they had an extremely successful opening in Dublin.  

http://www.shelbourn...lease.php?id=93

The Chicago Spire Launch in Singapore Proves Big Hit with Investors
12/03/2008


Roadshow for World’s Tallest Residential Building Now Heads for Other Asian Centers

SINGAPORE / March 11, 2008 – More than 800 visitors attended the Asian launch of The Chicago Spire during the exhibition’s two-day run at the Four Seasons Hotel Singapore.

Apartments in The Chicago Spire sold briskly, organizers crediting sales to the strong Singapore dollar and the unique design of the project.

According to Michael Ng, Managing Director of Savills, the international sales agent for The Chicago Spire, Singapore investors were “magnetized” by the project’s stunning architecture. “It’s a trophy for life and you can imagine what it’s like to own a unique unit in a world building.” Ng said.

"The response to The Chicago Spire was overwhelming with so many attending our event and exhibition,” he added. “We’ve seen very strong sales coming from both Singaporeans and expatriates based here. Judging from their comments, everyone was attracted by the same thing – the truly iconic nature of this spectacular project, and the realization that The Chicago Spire is destined to become the most significant residential development in the world."

No two residences will be alike. Each suite, gallery and one- to four-bedroom home and penthouse will offer a unique floor plan and outstanding city or lakefront views. Each unit is designed by world renowned architect Santiago Calatrava.

“Our sales team was busy signing deals throughout the exhibition.” Ng said. Prices for Chicago Spire apartments range from US$750,000 for a suite to US$40m for a penthouse.

After Singapore, the Asia roadshow continues on to Kuala Lumpur, Hong Kong, Shanghai and Beijing, before a tour of Europe and South Africa.

Garrett Kelleher, Executive Chairman of Shelbourne Development Group, remarked on the sophisticated investor climate of the Lion City, adding: “We were always confident of achieving our sales target in Singapore and we have been delighted with the enthusiasm the project has received and the level of sales achieved at the start of the South East Asian road show. We look forward to our next event in KL on the 8th of March.”

Developed by Irish property development company Shelbourne Development Group, The Chicago Spire has a build programme of four years. Situated on a 2.2 acre site where the Chicago River meets Lake Michigan, it will be the world's tallest residential building. When completed, it will be home to 1,194 individual residences along with a range of amenities that will rival any in the world including health and fitness facilities, children and teen areas, cinema and private dining facilities, business centre, retail and restaurant services as well as a library, wine cellar and humidor.

Construction of The Chicago Spire began in June 2007. Completion and occupancy are expected in Q4 2011.

Edited by ChiDC, 15 March 2008 - 08:18 AM.

[ChiDC]

Mini update from SSP:

Quote

long time reader but this is my first post.

I attended the New York launch two days ago at the Pratt House here in NYC. Calatrava was there as well as Kelleher. Spoke with both of them for a bit, seemed like solid dudes, especially Kelleher.

No pictures, but the highlights:
*Calatrava said they sold around 20 units in less than 2 hours during the Singapore event
*Sales rep said it would probably take at least a year before getting to the fifth floor
*Calatrava drew some incredible sketches which were projected live onto flat panels all over the room
*The foot/bike bridge is still being worked out but was not included in the model

Being a proud Chicagoan living and working in NYC, I was pleasantly surprised by how many people showed up for the event. Based on the solid turn out and the caliber of these people (wealth all over the place) I have no doubt this building gets sold out.

Im really happy to see that the bridge is still on the table. Its one of my favorite aspects of the entire project. And those sales numbers are quite impressive.

[mgman]

ChiDC, on Mar 15 2008, 10:23 AM, said:

Mini update from SSP:



Im really happy to see that the bridge is still on the table. Its one of my favorite aspects of the entire project. And those sales numbers are quite impressive.

Today the developer announced that they had sold 30 percent of the units in the building. That is a total of 352 units which is not to shabby. However, I am still saving up the $750,000 for a studio unit so I will have to wait to pre-order. here is a link:

30% of unites sold in Chicago spire

Edited by mgman, 04 June 2008 - 12:00 PM.

[tSlater]

Maybe it wasn't here and was elsewhere, but I seem to remember a lot of people complaining that the Chicago Spire is ugly because it does not fit into the Chicago skyline and just isn't right for Chicago.

Well, July in my "American Cities, Past and Present" panormaic calendar features Chicago, and the panorama of Chicago from 1927 instantly reminded me of Chicago Spire.  Say if the materials and general style of the spire were more historical, and scaled down to a height fitting for that era, I think it would blend right in.  Chicago Spire seems to me to be a revisitation of the former Chicago Skyline, and an element which has become almost lost in the sea of blocky international-style buildings.



(It fits in better towards the northern end, which coincidentally is where the spire is being built!)

Edited by tSlater, 01 July 2008 - 11:10 AM.

[Neo]

Looks like this project is dead in the water unless an additional $1.75B in financing comes in.  I hate to see this project not go vertical since it was so unique (even for Chicago).  Hopefully once this recession is over additional financing will become available and push this project vertical.

NYTimes.com has an article on this project being halted BTW:
http://www.nytimes.c...s...pire&st=cse

[tSlater]

This makes me a sad panda. =[

[Neo]

This project was probably a bit too much, especially for current market conditions.  While I hate to see it go, it simply isn't practical and I understand the reason for its demise.  Can you imagine firefighters having to climb all of those stairs in the case of an emergency?

[ronsmytheiii]

Neo, on 12 February 2009 - 08:51 AM, said:

This project was probably a bit too much, especially for current market conditions. While I hate to see it go, it simply isn't practical and I understand the reason for its demise. Can you imagine firefighters having to climb all of those stairs in the case of an emergency?

Not dead yet!

Quote

Garrett Kelleher, developer of the planned 150-story Chicago Spire, has acquired some financing, said his publicist. It's a start, but don't look for cranes right away at his property, 400 N. Lake Shore Drive. Kim Metcalfe, spokeswoman for Kelleher, said the developer has gotten backup financing in the form of bridge loans and a mezzanine loan, which is similar to a second mortgage. She said the financing would kick in if Kelleher can secure about $170 million to restart the project, potentially the tallest building in North America. Metcalfe declined to provide any details of the financing.

http://www.suntimes....oeder09.article

[Neo]

The project is most certainly interesting and eye catching to say the least, but I'm still pessimistic that this thing will get off the ground. I hope they prove me wrong though as it is one awesome piece of architecture.

[THERUSTYMITTEN]

Does anybody have any news on this project? Links?