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Old July 5th, 2007, 07:15 AM   #2061
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Quote:
Originally Posted by gincan View Post
WOW is this behemont really going though? Don't get me wrong, I love skyscrapers but this one is just going to unbalance the skyline completely. The original design was imo way more incorporated to the skyline, this one will only make every tower around it look tiny, kinda like AON on steroids.
Oh, I suppose we'll learn to live with it.
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Old July 5th, 2007, 08:49 AM   #2062
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WOW is this behemont really going though? Don't get me wrong, I love skyscrapers but this one is just going to unbalance the skyline completely. The original design was imo way more incorporated to the skyline, this one will only make every tower around it look tiny, kinda like AON on steroids.
it's not really huge at all, width wise
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Old July 5th, 2007, 06:15 PM   #2063
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The Spire will give Chicago an even more than already existing unique skyline!
It will be the highest tower in the world, after those two in Dubai.
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Old July 5th, 2007, 06:31 PM   #2064
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This and the BD along with Russia Tower/Guangzhou TV tower/Crown Las Vegas if it gets built and the Al burj are already setting the new records for heights exceeding 560 m +. Now, only the sky's the limit.
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Old July 5th, 2007, 06:33 PM   #2065
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Originally Posted by Burj Dubai 2,600ft+ View Post
it's not really huge at all, width wise
It's wider than Burj Dubai past 1500 feet, and the base is almost as big as the Sears Tower's base.
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Old July 5th, 2007, 07:16 PM   #2066
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Thats good, because many people really dig this project!
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Old July 5th, 2007, 07:24 PM   #2067
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It's wider than Burj Dubai past 1500 feet, and the base is almost as big as the Sears Tower's base.
In the diagram that I saw, it looked much more massive than Burj Dubai, a stronger gesture altogether.
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Old July 5th, 2007, 10:32 PM   #2068
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on the renders it looks much more narrow than it is/will be
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Old July 5th, 2007, 10:34 PM   #2069
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Originally Posted by Myster E View Post
This and the BD along with Russia Tower/Guangzhou TV tower/Crown Las Vegas if it gets built and the Al burj are already setting the new records for heights exceeding 560 m +. Now, only the sky's the limit.
i wouldn't really say that the sky is the limit, i would say space is the limit. I can just imagine when we actually have to have oxygen tight rooms just so people can breathe in space in the newest tallest building.
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Old July 5th, 2007, 11:51 PM   #2070
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By Eddie Baeb

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Inspired risk
Garrett Kelleher returns to Chicago with a bold (some say dubious) plan — and a questionable track record

Photo: Stephen J. Serio
Garrett Kelleher has a tall tale to tell.

The 45-year-old spent a decade in Chicago working primarily as a painting contractor, then went back to his native Ireland in 1996, where he made a fortune as a real estate developer. Now he's returned with an audacious — some say dubious — plan to build a skyscraper that would dramatically alter the city's skyline.

Mr. Kelleher's proposed Chicago Spire, designed by renowned architect Santiago Calatrava, would twist 2,000 feet into the sky, supplanting the Sears Tower as North America's tallest building.

"In my game, this is a once-in-a-lifetime opportunity," says Mr. Kelleher in his slightly accented baritone.

But Mr. Kelleher's track record isn't as pretty as one of Mr. Calatrava's drawings. During his last stint in Chicago, records show, Mr. Kelleher left a trail of unpaid bills, lawsuits and government liens. And while he appears to have eventually made good on many of those, his past may arouse questions about his ability to get the Spire built — especially given his daring plan to finance and start building the 1,200-unit tower before selling a single condominium.

Most of the spots on Mr. Kelleher's record stem from the Chicago-based commercial painting company he started in 1988. In 2001, the company defaulted on a $590,000 promissory note from American National Bank & Trust Co. The loan was taken out to repay debts owed by his company, says Mr. Kelleher's local attorney, Thomas J. Murphy.

Two years after the default, a Cook County judge ordered the painting company to repay principal and interest totaling $654,638.60. Mr. Kelleher repaid the loan in 2004 after being served with papers at his home in Dublin, according to court documents.

LIENS AND LAWSUITS

Mr. Kelleher also had several liens placed against his Chicago companies from 1996 to 2002 by the Internal Revenue Service and the state over unpaid payroll taxes and employer contributions to the state's unemployment fund. Public records indicate some of the liens were released, indicating they were paid, while four state liens totaling $60,000 were outstanding. Mr. Kelleher says he wasn't aware of those debts, and his attorney says checks were cut to the state on Friday after the matter was brought to his client's attention.

Mr. Kelleher says his painting company struggled when his former associates ran the business in the late '90s while he was living in Ireland. He says the lawsuits, liens and defaulted loan all stem from winding down the business, which was losing money, in 2001. He didn't repay the loan on time, he says, because there was a question over whether he was responsible for it, and because he was immersed in his development business in Ireland.

"I was 5,000 miles away and I paid," Mr. Kelleher says. "My credibility is impeccable in Ireland and here."

The lawsuits could be seen as a sign of how far Mr. Kelleher has come from his days as an immigrant entrepreneur. A spokeswoman says his net wealth is now more than $750 million, according to a Deloitte & Touche report.

The son of a dentist, Mr. Kelleher first came to the United States from Dublin as a teenager to play competitive tennis. The sport dominated his early adulthood — he played on the team at Dublin's prestigious Trinity College, where he studied math and left without graduating — and he remains a skilled player. Last fall he and a partner won the Irish National Over-45s Doubles Championship.


Garrett Kelleher presented the latest redesign of the Spire last week in Chicago. He says construction of the 1,200-unit tower could begin as early as May.

Photo: Stephen J. Serio


SWAGGER

A pensive father of six, with a seventh on the way, Mr. Kelleher brings his athlete's swagger to his plans for the Spire, shrugging off skepticism over whether he'll get the tower built. "I have yet to fail to get a project off the ground," he says. (Mr. Kelleher took over the Spire project last year after Chicago developer Christopher Carley failed to get financing for the site.)

But many local developers are skeptical, considering the twisting design means building costs will probably come in at well over $1 billion, more than double a typical skyscraper's cost. Perhaps that's why Mr. Kelleher last week suggested that the 1,200 condominiums he's planning will be priced higher than any other new residences in the city.

Mr. Kelleher, whose company has purchased and built hotels, apartments, stores and small office buildings in Ireland, France, Belgium and England, also has fostered skepticism with his plans to finance the building. He says he'll put up 30% of the project's cost himself, while lenders, led by Dublin-based Anglo-Irish Bank, will provide the remaining 70%.

And while banks typically require condo developers to sell half their units before they can receive a construction loan, Mr. Kelleher says he doesn't need to make any so-called pre-sales and that construction could begin as soon as May.

"It's almost unimaginable to get that number of sales, and to get them at more than a record price," says Dan McLean, president of MCL Cos., which has built condos, townhouses and a hotel close to the Spire's site near Navy Pier. "It's a beautiful building, but it's so large and such a huge undertaking I would be highly doubtful it could actually be built."

Thomas A. Corfman contributed.
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Old July 6th, 2007, 12:09 AM   #2071
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By Eddie Baeb

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Inspired risk
Garrett Kelleher returns to Chicago with a bold (some say dubious) plan — and a questionable track record

Photo: Stephen J. Serio
Garrett Kelleher has a tall tale to tell.

The 45-year-old spent a decade in Chicago working primarily as a painting contractor, then went back to his native Ireland in 1996, where he made a fortune as a real estate developer. Now he's returned with an audacious — some say dubious — plan to build a skyscraper that would dramatically alter the city's skyline.

Mr. Kelleher's proposed Chicago Spire, designed by renowned architect Santiago Calatrava, would twist 2,000 feet into the sky, supplanting the Sears Tower as North America's tallest building.

"In my game, this is a once-in-a-lifetime opportunity," says Mr. Kelleher in his slightly accented baritone.

But Mr. Kelleher's track record isn't as pretty as one of Mr. Calatrava's drawings. During his last stint in Chicago, records show, Mr. Kelleher left a trail of unpaid bills, lawsuits and government liens. And while he appears to have eventually made good on many of those, his past may arouse questions about his ability to get the Spire built — especially given his daring plan to finance and start building the 1,200-unit tower before selling a single condominium.

Most of the spots on Mr. Kelleher's record stem from the Chicago-based commercial painting company he started in 1988. In 2001, the company defaulted on a $590,000 promissory note from American National Bank & Trust Co. The loan was taken out to repay debts owed by his company, says Mr. Kelleher's local attorney, Thomas J. Murphy.

Two years after the default, a Cook County judge ordered the painting company to repay principal and interest totaling $654,638.60. Mr. Kelleher repaid the loan in 2004 after being served with papers at his home in Dublin, according to court documents.

LIENS AND LAWSUITS

Mr. Kelleher also had several liens placed against his Chicago companies from 1996 to 2002 by the Internal Revenue Service and the state over unpaid payroll taxes and employer contributions to the state's unemployment fund. Public records indicate some of the liens were released, indicating they were paid, while four state liens totaling $60,000 were outstanding. Mr. Kelleher says he wasn't aware of those debts, and his attorney says checks were cut to the state on Friday after the matter was brought to his client's attention.

Mr. Kelleher says his painting company struggled when his former associates ran the business in the late '90s while he was living in Ireland. He says the lawsuits, liens and defaulted loan all stem from winding down the business, which was losing money, in 2001. He didn't repay the loan on time, he says, because there was a question over whether he was responsible for it, and because he was immersed in his development business in Ireland.

"I was 5,000 miles away and I paid," Mr. Kelleher says. "My credibility is impeccable in Ireland and here."

The lawsuits could be seen as a sign of how far Mr. Kelleher has come from his days as an immigrant entrepreneur. A spokeswoman says his net wealth is now more than $750 million, according to a Deloitte & Touche report.

The son of a dentist, Mr. Kelleher first came to the United States from Dublin as a teenager to play competitive tennis. The sport dominated his early adulthood — he played on the team at Dublin's prestigious Trinity College, where he studied math and left without graduating — and he remains a skilled player. Last fall he and a partner won the Irish National Over-45s Doubles Championship.


Garrett Kelleher presented the latest redesign of the Spire last week in Chicago. He says construction of the 1,200-unit tower could begin as early as May.

Photo: Stephen J. Serio


SWAGGER

A pensive father of six, with a seventh on the way, Mr. Kelleher brings his athlete's swagger to his plans for the Spire, shrugging off skepticism over whether he'll get the tower built. "I have yet to fail to get a project off the ground," he says. (Mr. Kelleher took over the Spire project last year after Chicago developer Christopher Carley failed to get financing for the site.)

But many local developers are skeptical, considering the twisting design means building costs will probably come in at well over $1 billion, more than double a typical skyscraper's cost. Perhaps that's why Mr. Kelleher last week suggested that the 1,200 condominiums he's planning will be priced higher than any other new residences in the city.

Mr. Kelleher, whose company has purchased and built hotels, apartments, stores and small office buildings in Ireland, France, Belgium and England, also has fostered skepticism with his plans to finance the building. He says he'll put up 30% of the project's cost himself, while lenders, led by Dublin-based Anglo-Irish Bank, will provide the remaining 70%.

And while banks typically require condo developers to sell half their units before they can receive a construction loan, Mr. Kelleher says he doesn't need to make any so-called pre-sales and that construction could begin as soon as May.

"It's almost unimaginable to get that number of sales, and to get them at more than a record price," says Dan McLean, president of MCL Cos., which has built condos, townhouses and a hotel close to the Spire's site near Navy Pier. "It's a beautiful building, but it's so large and such a huge undertaking I would be highly doubtful it could actually be built."

Thomas A. Corfman contributed.
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Old July 6th, 2007, 12:28 AM   #2072
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Could you site that article Cheeps? Thanks.
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Old July 6th, 2007, 12:45 AM   #2073
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Quote:
Originally Posted by gincan View Post
WOW is this behemont really going though? Don't get me wrong, I love skyscrapers but this one is just going to unbalance the skyline completely. The original design was imo way more incorporated to the skyline, this one will only make every tower around it look tiny, kinda like AON on steroids.
While I would tend to like it to be 1500-1700ft. it will be fine. The city will just have to build a +1,500 ft. near the Loop someday for "balence". Maybe in the future some brave soul will resurrect the skyneedle.

One good thing about not sticking an antenna on this baby. It leaves open incentive for some developer to build a supertall with one in the future possibly ala 7 S.Dearborn.
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Old July 6th, 2007, 12:57 AM   #2074
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Could you site that article Cheeps? Thanks.
I found the article at chicagorealestatedaily.com
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Old July 6th, 2007, 04:45 AM   #2075
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From Crains today.
Source


July 05, 2007
By Thomas A. Corfman

@properties picked as local sales firm for Chicago Spire
Residential brokerage firm @properties on Thursday was named the local sales firm for the Chicago Spire.

London-based Savills PLC, picked by the Irish developer last year to handle worldwide condo marketing of the massive tower designed by celebrity architect Santiago Calatrava, said the growing Chicago-based firm would manage Illinois sales for the project, which must achieve record-breaking prices to cover the estimated construction cost of well over $1 billion.

Garrett Kelleher, director of Dublin, Ireland-based Shelbourne Development Ltd., has said construction financing won’t depend on early sales of condos in the proposed 1,200-unit tower. And by appealing to overseas buyers, Mr. Kelleher has portrayed the project as being almost independent of the downtown condo market, which is in the midst of a slump.

The challenge is particularly tough for developers trying to sell units for more than $700 per square foot, partly because of a crowded field of rival projects and partly because of a scarcity of prospective buyers.


“The ultra-luxury product . . . continues to sell at a slow pace due to its more limited pool of potential buyers,” according to the 1st Quarter Downtown Chicago Residential Benchmark Report issued by Appraisal Research Counselors, a consulting firm.

The selection is a step up for @properties, which was founded only seven years ago and is better known in neighborhoods such as Lakeview and the Near West Side. In 2006, the company had revenue of $40.4 million.

Savills has more than 140 offices worldwide, but none in the U.S. The Spire won’t be the first Chicago project in which it has teamed up with @properties. The two firms are also marketing Park Lexington, at Michigan Avenue and 22nd Street on the Near South Side, for Chieftain Group of Limerick, Ireland. Chieftain began construction of that 333-unit project in December after obtaining an $84-million construction loan from Chicago-based Corus Bank.

A year ago, Mr. Kelleher took over the spire project proposed for a site at 410 N. Lake Shore Drive from Chicago developer Christopher Carley, who was unable to secure financing for a much smaller version of the proposal.
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Old July 6th, 2007, 06:04 AM   #2076
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Quote:
Originally Posted by cheeps View Post
By Eddie Baeb

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Inspired risk
Garrett Kelleher returns to Chicago with a bold (some say dubious) plan — and a questionable track record

Photo: Stephen J. Serio
Garrett Kelleher has a tall tale to tell.

The 45-year-old spent a decade in Chicago working primarily as a painting contractor, then went back to his native Ireland in 1996, where he made a fortune as a real estate developer. Now he's returned with an audacious — some say dubious — plan to build a skyscraper that would dramatically alter the city's skyline.

Mr. Kelleher's proposed Chicago Spire, designed by renowned architect Santiago Calatrava, would twist 2,000 feet into the sky, supplanting the Sears Tower as North America's tallest building.

"In my game, this is a once-in-a-lifetime opportunity," says Mr. Kelleher in his slightly accented baritone.

But Mr. Kelleher's track record isn't as pretty as one of Mr. Calatrava's drawings. During his last stint in Chicago, records show, Mr. Kelleher left a trail of unpaid bills, lawsuits and government liens. And while he appears to have eventually made good on many of those, his past may arouse questions about his ability to get the Spire built — especially given his daring plan to finance and start building the 1,200-unit tower before selling a single condominium.

Most of the spots on Mr. Kelleher's record stem from the Chicago-based commercial painting company he started in 1988. In 2001, the company defaulted on a $590,000 promissory note from American National Bank & Trust Co. The loan was taken out to repay debts owed by his company, says Mr. Kelleher's local attorney, Thomas J. Murphy.

Two years after the default, a Cook County judge ordered the painting company to repay principal and interest totaling $654,638.60. Mr. Kelleher repaid the loan in 2004 after being served with papers at his home in Dublin, according to court documents.

LIENS AND LAWSUITS

Mr. Kelleher also had several liens placed against his Chicago companies from 1996 to 2002 by the Internal Revenue Service and the state over unpaid payroll taxes and employer contributions to the state's unemployment fund. Public records indicate some of the liens were released, indicating they were paid, while four state liens totaling $60,000 were outstanding. Mr. Kelleher says he wasn't aware of those debts, and his attorney says checks were cut to the state on Friday after the matter was brought to his client's attention.

Mr. Kelleher says his painting company struggled when his former associates ran the business in the late '90s while he was living in Ireland. He says the lawsuits, liens and defaulted loan all stem from winding down the business, which was losing money, in 2001. He didn't repay the loan on time, he says, because there was a question over whether he was responsible for it, and because he was immersed in his development business in Ireland.

"I was 5,000 miles away and I paid," Mr. Kelleher says. "My credibility is impeccable in Ireland and here."

The lawsuits could be seen as a sign of how far Mr. Kelleher has come from his days as an immigrant entrepreneur. A spokeswoman says his net wealth is now more than $750 million, according to a Deloitte & Touche report.

The son of a dentist, Mr. Kelleher first came to the United States from Dublin as a teenager to play competitive tennis. The sport dominated his early adulthood — he played on the team at Dublin's prestigious Trinity College, where he studied math and left without graduating — and he remains a skilled player. Last fall he and a partner won the Irish National Over-45s Doubles Championship.


Garrett Kelleher presented the latest redesign of the Spire last week in Chicago. He says construction of the 1,200-unit tower could begin as early as May.

Photo: Stephen J. Serio


SWAGGER

A pensive father of six, with a seventh on the way, Mr. Kelleher brings his athlete's swagger to his plans for the Spire, shrugging off skepticism over whether he'll get the tower built. "I have yet to fail to get a project off the ground," he says. (Mr. Kelleher took over the Spire project last year after Chicago developer Christopher Carley failed to get financing for the site.)

But many local developers are skeptical, considering the twisting design means building costs will probably come in at well over $1 billion, more than double a typical skyscraper's cost. Perhaps that's why Mr. Kelleher last week suggested that the 1,200 condominiums he's planning will be priced higher than any other new residences in the city.

Mr. Kelleher, whose company has purchased and built hotels, apartments, stores and small office buildings in Ireland, France, Belgium and England, also has fostered skepticism with his plans to finance the building. He says he'll put up 30% of the project's cost himself, while lenders, led by Dublin-based Anglo-Irish Bank, will provide the remaining 70%.

And while banks typically require condo developers to sell half their units before they can receive a construction loan, Mr. Kelleher says he doesn't need to make any so-called pre-sales and that construction could begin as soon as May.

"It's almost unimaginable to get that number of sales, and to get them at more than a record price," says Dan McLean, president of MCL Cos., which has built condos, townhouses and a hotel close to the Spire's site near Navy Pier. "It's a beautiful building, but it's so large and such a huge undertaking I would be highly doubtful it could actually be built."

Thomas A. Corfman contributed.
Dan McLean might want to saunter over to the construction site.
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Old July 6th, 2007, 11:25 AM   #2077
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Isn't there in Chicago a webcam showing the progress??
That would be so great!!! (or of other constructin sites, waterviewTower, trump?)
I found www.trumptoweronline.com, reporting on a webcam, but it was closed.
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Old July 6th, 2007, 04:39 PM   #2078
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Quote:
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Dan McLean might want to saunter over to the construction site.
I couldn't agree with you more. I think that after it's all said and done a lot of people are going to eat crow.
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Old July 7th, 2007, 08:10 AM   #2079
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I need to take more pics of the site.
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Old July 7th, 2007, 10:15 PM   #2080
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kinda a dumb question, but is it still technically not under construction or are we just saying "it is" or what?
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