Chicago Spire - isto sim, é uma casa diferente

The Tallest building the United States.The World Trade Center(destroyed) and Empire State was tallest building in the USA.

Two more mechanic's liens placed on the property today. And reportedly, Kelleher and Calatrava are not speaking to each other.

It's dead folks. Don't expect them to admit it until next year, but it's dead.

So what is next for this property? Expect it to remain fallow for a couple years while the market improves (that's why they removed the light-robbing protective barriers from around the adjacent townhomes and added a permanent safety fence around the hole). Then Kelleher will sell.

According to Crain's Chicago Business today, Calatrava has placed a lien on the property. He is owed nearly $12 million for the design work and hasn't received any payments since mid July. This thing has been heavily advertised as a "work of art" by Calatrava. Why would Kelleher piss off the artist by not paying him promptly?

In addition, local rumor has it that over half the sales staff was released last week.

All signs point to this project being DEAD, at least in its current form.

A previous announcement claimed work was being "slowed" until the credit market stabilizes. Work is now officially "postponed" (completely halted) according to the developer. This only a week after the penthouse was sold.

The sole activity at the site seems to be the erection of a more permanent fence around the hole. The fact that they are beefing up this fence (which will only have to be removed immediately when construction resumes on the plaza level) means they expect a very long delay.

OK, It's official. Story in the Sun Times:

Turmoil in the credit markets will cause unspecified delays in the construction of the 150-story Chicago Spire, said a spokeswoman for the developer.

Kim Metcalfe said underground utility work at the site, 400 N. Lake Shore Drive, will continue but that the pace will slacken until the market improves.

Funny thing is, I was banned from a skyscraper fanboy site for "pessimistic speculation". I also claimed Waterview would be scaled back...

I really hope this thing gets built.
Even though I probably won't be able to afford it, I would so live there...

The site has been cleaned and graded this week. It is almost completely devoid of equipment, materials and workers. Same sort of general cleanup happened at Waterview before they shut that project down in April. Still no announcements of funding or for contracts for the parking garage construction. I'm willing to wait only until the end of the month for something to happen before I claim this is on indefinite hold, but it's becoming obvious that what is going on is not "according to plan".