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New, Hopeful Attention Directed At Chicago Spire Hole

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Well what do you know, the kingpin of New Millennium Could Have Been's is making a little noise again in Streeterville. We're talking about Irish developer Garrett Kelleher's one-time Chicago Spire. Kelleher no longer has any association with the project or the site (read all about it), but Ireland's National Asset Management Agency (which assumed control from Kelleher and the now-defunct Anglo Irish Bank Corp.) has hired a broker to sell off $93M in debt on the 2.2-acre property at 400 N Lake Shore Drive, according to Crain's. This doesn't mean anyone has interest in resurrecting The Spire or its equal, only that a medley of new condos/apartments/hotel rooms may well appeal to a developer. Purchase of the debt will help settle the foreclosure case and bring some sort of solution to the years-old gaping hole— a bad neighbor to townhomes and towers clustered where the river meets the lake. Santiago Calatrava's Spire imagined some 1,200 condo units in a 150-story corkscrewing tower. In recent years, only 7 South Dearborn could've matched that audacity.
·Chicago Spire hole's future: Broker seeks buyer for debt [Crain's]
·Chicago Spire Deathwatch [Curbed Chicago]

Chicago Spire

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