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Will the Trump Tower Get a Boost from the Spire's Demise?

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While the ink dries on the Chicago Spire's obituary, let's turn our attention westward, to the Trump Tower, which can only benefit from the Spire's failure. Remember, it was The Donald who foretold these events back in 2006, when he bashed the Spire site as "a Grade C location and not financially feasible." (Trump also referred to Rex Grossman as the greatest quarterback since Joe Namath, so take it or leave it.) In July, Crain's Chicago Business reported that roughly half of the condos in the Trump Tower had been sold — 266 of the 486 regular condos and 155 of the 339 hotel condos. Now, a new article in the Chicago Tribune reports that in the past four months, 14 condos have sold in the 92-story tower. Unless we're missing something, that should mean that about 57 percent of the regular condos are sold (53 percent of all of the units), and not two-thirds, as Trib reporter Mary Ellen Podmolik suggests in the article. With all that unsold inventory, Team Trump is planning to unveil five new furnished models, in an effort to "tell a story," as Ivanka puts it.
· Trump Tower dressing up model units to spur sales [Trib]
· Crain’s: Trump at the halfway point [YoChicago]

Chicago Spire

400 North Lake Shore Drive, Chicago, IL 60611 Visit Website

Trump International Hotel & Tower

401 North Wabash Avenue, Chicago, Illinois 60611