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Old October 23rd, 2008, 02:03 PM   #8001
luci203
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Quote:
Originally Posted by Doomlord_uk View Post
I think they should rename it the Chicago Aspire

If they've only 'sold' (whatever that means, probably just signed contracts) 1/3 of the units then there is no way they can justify progressing, and my guess is that they are losing sales momentum fast.

They really should just grass over it and turn the hole into a fishpond for the 10 years it will take to get this project going again. I'm sure it will be built one day.
In troubled times, those who take a chance, might be the future winners.

They could wait 3-4 years for the market to recover, and then resume the construction, or continue now, and have a finished tower by then, while oters are just starting new projects.

P.S.
If the economy is not back on its feet in 3-4 years, and things will go from bad to worse, Chicago (US and the World) would have bigger problems than Chicago Spire not to be built.

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Old October 23rd, 2008, 02:05 PM   #8002
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This is by far the best tower to reach construction stage in the US in recent times.

If it doesn't go ahead it is hella bad for the Chicago skyline, you will always look at it and go 'what if...'.
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Old October 23rd, 2008, 02:18 PM   #8003
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What is the purpose of that red crane/tractor looking thing moving? LOL
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Old October 23rd, 2008, 02:43 PM   #8004
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Showing some presence and all... keeping the staff occupied.
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Old October 23rd, 2008, 08:12 PM   #8005
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Quote:
Originally Posted by Renton12 View Post
336 pages for a basically a hole in the ground. Talk about most overrated forum in history.
I'll give you that but aren't those pics making you sad in a way?
I was looking forward so much to see the core finally rise.
I'm gutted...
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Old October 23rd, 2008, 08:18 PM   #8006
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Quote:
Originally Posted by Renton12 View Post
336 pages for a basically a hole in the ground. Talk about most overrated forum in history.
Hahaha, that's what I was also thinking. Page after page with photos of nothing but a hole. You would think after 200 the thing would have sprouted above ground.
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Old October 23rd, 2008, 08:31 PM   #8007
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Quote:
Originally Posted by massp88 View Post
Hahaha, that's what I was also thinking. Page after page with photos of nothing but a hole. You would think after 200 the thing would have sprouted above ground.
I can see you and your buddy are new around here. my guess is you are also new in knowing how long it usually takes for the foundation of one of the worlds tallest buildings to be built. please take your ignorance elsewhere.
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Old October 23rd, 2008, 10:56 PM   #8008
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I don't see why they just don't continue construction anyway.
The great depression didn't stop the Empire state building from being built. (even though it was nicknamed the 'empty state building', because of the time it took to be completely occupied, which was about 20 years.)
Can't wait for something to start happening again.
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Old October 23rd, 2008, 11:20 PM   #8009
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How can they continue with the construction despite all, when the developer has less wealth/assets then the cost of building the tower?
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Old October 24th, 2008, 05:56 PM   #8010
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I don't know this has been posted already. But here you go.

Spire pay dispute spurs doubt
Calatrava among consultants filing millions in liens against developer

By Mary Ellen Podmolik and Blair Kamin | Chicago Tribune reporters | October 18, 2008

The Chicago Spire's penthouse may be sold but there is growing doubt whether the project will rise out of the hole that's been created at 400 N. Lake Shore Drive.

Consultants on the project are starting to line up seeking payment for their work on the development, designed to become the tallest skyscraper in the United States and one of the tallest in the world. The most well-known of the consultants, architect Santiago Calatrava, filed a lien on Oct. 8 through his Lente Festina Ltd., seeking more than $11.3 million in payment from Spire developer Shelbourne Development Group Inc.

Separately, Chicago-based architectural design firm Perkins+Will Inc. filed a lien against Shelbourne for almost $4.85 million in payment. The two liens were filed with the Cook County recorder of deeds.

The liens suggest the project's financing, as well as its feasibility, is shaky.

Reached at the family's home in New York, Calatrava's wife, Tina, declined to comment. Perkins+Will did not return phone calls for comment.

A spokeswoman for Irish developer Garrett Kelleher said the firm knew that the liens were coming and continued to have dialogues with the companies. However, Shelbourne disagrees with the amount the firms say they are due.

"These guys have been paid well," said spokeswoman Kim Metcalfe. "It's clearly a four-year project. The project payment and delivery is over that four years. The amounts are under dispute."

The Spire captured the public's imagination, not only because of its great height and uniquely twisting design, but also because of the charismatic Calatrava's involvement. He has been the public face of the project, not only involved in every aspect of the project right down to custom door handles, but also wowing crowds as he made sketches of the design at public meetings.

Along with the city's bid to host the 2016 Summer Olympics, the iconic proposal came to symbolize Chicago's aspirations to become a "global city," a worldwide center of culture as well as commerce.

But a faltering economy and seized-up credit markets have brought visible work on the project to a standstill. Currently the site is simply a circular hole, 76 feet deep and 110 feet across, that is surrounded by caissons to support the skyscraper's concrete core. The East Water Place Townhome Association, which had been conducting weekly meetings with the developer about the project adjacent to its building, told residents earlier this month the meetings had been discontinued because the Spire's construction had been halted.

News of the liens was first reported by Crain's Chicago Business.

Just 21/2 weeks ago Shelbourne sought to inject a bit of optimism into the beleaguered project by announcing that Beanie Babies magnate Ty Warner had signed a contract to buy the two-level penthouse, a unit that was listed for sale at $40 million.

To date, 395 of the building's 1,194 units have been sold.

"The sales are going very well," Metcalfe said. "This is the normal course of business for companies to protect themselves, and the market is obviously the 800-pound gorilla in the room."

http://www.chicagotribune.com/busine...,7369971.story
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Old October 24th, 2008, 07:50 PM   #8011
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ive been waiting for that well they mine as well refund the 395 units, becuase the chances of the tower being built is looking more slimmer every day...
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Old October 24th, 2008, 10:20 PM   #8012
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Quote:
Originally Posted by Chicagophotoshop View Post
I can see you and your buddy are new around here. my guess is you are also new in knowing how long it usually takes for the foundation of one of the worlds tallest buildings to be built. please take your ignorance elsewhere.
lol
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Old October 24th, 2008, 10:38 PM   #8013
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Only just seen that this one is on hold, a great shame for Chicago. I hope it does get built, such a great design.
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Old October 24th, 2008, 11:34 PM   #8014
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Quote:
Originally Posted by Dequal View Post
I don't know this has been posted already. But here you go.http://www.chicagotribune.com/busine...,7369971.story
It had in post #6634 on the date it was written.
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Old October 25th, 2008, 03:13 AM   #8015
spire1000
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i heard some people talking that santiago calatrava quit the project because of the 11million he was supposed to be paid. did anyone buy the project after that?any news that any of you would like to share?
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Old October 25th, 2008, 03:35 AM   #8016
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Oct 24 - lunch

From above



higer res
2007 series
2008 Q1 series
2008 Q2 series
2008 Q3 & 4 series

Crane being removed






From the upper deck.
Ramps


Dusable park


Along the river


Across the river
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Old October 25th, 2008, 07:38 AM   #8017
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Are you getting bored of taking pictures harry? with such little progress. I would have given up.

I hope this project goes on. I'm fascinated by it. Had the opportunity to walk right next to the site in April, when work was going on at a rapid pace. But I guess hopefully it is resolved soon, but I definitely have my doubts on it.
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Old October 25th, 2008, 09:10 AM   #8018
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....also, the port-a-potty that was at the back of the site has disappeared!! Soon everything but the trailer will be gone.
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Old October 25th, 2008, 11:41 AM   #8019
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It stands now right next to the trailer.
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Old October 25th, 2008, 12:31 PM   #8020
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That one is a different one. Look at Harry's pics from a couple days ago. They were both there then.
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