One more hurdle for Chicago Spire

The Chicago SpireAs expected, the developer of the 2,000-foot tall Chicago Spire condominium tower received unanimous approval Thursday morning from the City Council Zoning Committee.

As Dublin-based Shelbourne Development Ltd. won its request to construct a 2.4 million square foot tower, aldermen heaped praise on the project designed by famed Spanish architect Santiago Calatrava.

“I just hope that it comes to pass; that it doesn’t hit any pitfalls along the way,” added Ald. Bernard Stone. (50th).

Indeed, questions swirl around the financing of the project that could cost $2.4 billion, according to industry experts.

Shelbourne Chief Executive Garrett Kelleher declined to tell reporters’ the estimated cost of the building. John George, his attorney, said caisson work on the site will begin in May or June.

The full Council is expected to approve the Chicago Spire on May 9.

Source:  Chicago Tribune

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