The Chicago Spire Is 30% Sold
More than ever it seems having a snappy website and a dramatic plan by a popular architect does not guarantee that a building will be built. But the developer behind one of the most ambitious projects in the U.S., the Chicago Spire, is saying that the Santiago Calatrava-designed building is a go. The developer says they have already sold 30 percent of the building's condo units, sending a strong signal that there is enough interest in the project despite the fact that the condos are priced higher than others in the city (the studio units start at $750,000) and that the developer has required 15 percent of a unit's price upfront for each sale.
The Shelbourne Development Group, has been financing construction but that will change later this year and so everyone will be watching to see what new lenders step forward to back the project. The Spire will have 1,194 units total including the still-for-sale $40 million penthouse. If all proceeds as planned, move in is set for 2012.
Reader Comments (Page 1 of 1)
JXG Jun 5th 2008 12:16PM
I have been through the salesroom twice, and the models are really interesting. The sales and marketing teams are doing an incredible job of getting people in to see the models and do a great pitch once there. There is a studio model which features a hidden galley kitchen and a circular sleeping glass room--very cool in presentation. It's a great chance to explore the potential of the space, so I'd encourage people to find a way to get a tour. You never know, maybe you'll hit the lottery and want the penthouse. One drawback to me is the fact that none of the windows will open.
Deidre Woollard Jun 5th 2008 12:18PM
Really? That would be a huge dealbreaker for me too even though it seems like it is incredibly cool space.
StupendousMan Jun 5th 2008 2:06PM
It completely clashes with the skyline. It's a horrible design, what are these people thinking? Chicago's skyline has a strong linear look, how does a semi-bioform building fit in with this?
JXG Jun 5th 2008 3:20PM
It's not that out of place in the skyline. In person, the Chicago skyline is very vertical and the location of the Spire is really in the heart of tall buildings--the Standard Oil building and Lake Point (or whatever it's called).
And yes, the windows do not open but the building fully refreshes air every 45 minutes--they explain that in the walk through. And since there are no windows to open, there are also no balconies or terraces--the wind would rip them apart and lift objects from them.
CTE Jun 7th 2008 11:23PM
No offense, but that building's design seems pretty phallic, if you ask me.
sylvia Jun 26th 2008 12:48PM
I have lived in the great Chicago for 7 years now in California, but miss Chicago sometimes, anyway lived in Marina Towers 4yrs, lived Diversey & Sheridan, Sandberg Village, but looking at the Spires, no thanks, doesn't fit in with the ambience, lokks like it belongs in Dubai, not good olChicago, and OVERPRICED!, and looks very cold inside, + alot of highrises are like filing cabinets.