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Old June 21st, 2009, 07:03 AM   #8721
Onn
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At least the hole is still there, could be worse I suppose.
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Old June 21st, 2009, 06:47 PM   #8722
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6-20-09



















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Visit the official website for the Chicago Spire:
http://www.thechicagospire.com
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Old June 24th, 2009, 12:00 AM   #8723
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I can't imagine the same picture with the Chicago Spire there
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Old June 24th, 2009, 06:18 PM   #8724
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Originally Posted by NgelM View Post
I can't imagine the same picture with the Chicago Spire there
You've to face the reality. That's it!
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Old June 25th, 2009, 02:07 AM   #8725
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I have some important news on this.

The Irish Government is to take control of many developments around the world that were due to be financed by Irish development companies following the collapse of the property market in Ireland and globally into a new asset management agency. Shelbourne developments is one of them. This development is almost certain to be taken over by Irish taxpayers for the agency.


Quote:

Windy City SPIRE

Almost three years ago, Shelbourne Developments struck a deal to build one of the tallest buildings in the world, the Chicago Spire. Construction of the $1.2bn (€950m) tower -- expected to reach 610 metres -- began in summer 2007.

When the ambitious plans were announced in 2006, the company said the tower would be "the tallest free-standing structure in North America and Europe, surpassing the Sears Tower in Chicago and the CN Tower in Toronto, Canada". However, the credit crunch has stopped the tower in its tracks. Construction of the tower, which was initially due to be finished by late 2010, has been on hold since late last year "until the market improves", according to a spokeswoman for Shelbourne. The spokeswoman said the tower is still going ahead and that 40 per cent of the apartments have been sold.

However, the latest pictures -- which show that the tower is currently little more than a hole in the ground -- are unlikely to be much comfort to Anglo Irish Bank, the key backers of the project. Shelbourne paid about $64m (€51m) for the Spire site about three years ago -- and this paper understands that most of this money came from Anglo. Neither Anglo nor Shelbourne would say whether Shelbourne has paid Anglo back its loans for the Chicago Spire. As this project is only a couple of years old, chances are Anglo hasn't got its money back -- and that the Spire could make it into the mix of properties that loans heading Nama's way are secured on.


Independent.ie
There have been noises about this development in particular over here for months that these guys were in serious trouble. It may not happen but tbh chances are it is going to happen and, sadly, this development cannot now go ahead once the site is transferred (if it is as we suspect it will be). One national newspaper said it was "destined to become no more then an ice skating rink". This development is sunk and we have to mop up the mess.

I really hope im wrong and so are the media but I seriously doubt we are. It is/was a stunning proposal for Chicago.
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Last edited by odlum833; June 25th, 2009 at 02:24 AM.
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Old June 25th, 2009, 06:02 AM   #8726
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That is really depressing news, and I hope for chicago's sake that a lot of that just turns out to be speculation.
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Old June 25th, 2009, 04:15 PM   #8727
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Just what we need. An ice skating rink with a really large, extremely reinforced parking garage...
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Old June 25th, 2009, 04:20 PM   #8728
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I've walked by it a few times and can't believe the hole is so small for such a BIG structure!! I can't wait to see the finished product!!
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Old June 25th, 2009, 04:28 PM   #8729
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i have noticed so many posts from people saying they can't believe that this small whole will be the base of such a high structure. i've thought the same thing. but then i wondered, it is possible that the hole will be the core of the building and the perimeter of the spire will have a much greater diameter? just a thought.
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Old June 25th, 2009, 04:29 PM   #8730
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Yeah...This is how it is...
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Old June 25th, 2009, 06:38 PM   #8731
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Quote:
Originally Posted by CreTA1977 View Post
I've walked by it a few times and can't believe the hole is so small for such a BIG structure!! I can't wait to see the finished product!!
the hole is only for the central core and not for the whole building
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Old June 26th, 2009, 02:54 AM   #8732
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June 25th

From above



higer res 2007 series - 2008 Q1 series - 2008 Q2 series - 2008 Q3 & 4 series - 2009 series

The landscaping from last week


Thistle overcoming spider web.




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Old June 26th, 2009, 07:13 AM   #8733
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^ That's some great looking landscaping...ha

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Old June 26th, 2009, 07:16 AM   #8734
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Wow, that site is really dried out.
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Old June 26th, 2009, 10:50 AM   #8735
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Lol, I have that exact same species of thistle out here in Colorado. Landscapers must have a general mix of wild plants that they just toss around...
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Old June 26th, 2009, 03:14 PM   #8736
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Quote:
Originally Posted by Krattle View Post
Lol, I have that exact same species of thistle out here in Colorado. Landscapers must have a general mix of wild plants that they just toss around...
Weil.....thistles are just a weed so they probably do pretty well by themselves tossing their seeds around. I've never seen anybody plant them intentionally.
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Old June 26th, 2009, 03:29 PM   #8737
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peccato, spero che non sia un altro dei troppi on-hold di chicago
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Old June 26th, 2009, 07:31 PM   #8738
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Quote:
Odd mix looks set to end up in Nama pot
Apart from loans over acres of development land, Nama could end up with lots of other unexpected assets as security, says Louise McBride

Sunday June 21 2009

THE number crunchers at the National Treasury Management Agency (NTMA), charged with setting up the National Asset Management Agency (Nama), will be hard at work over the next few months.

Last Monday, AIB, Bank of Ireland, EBS, Irish Nationwide and Irish Life & Permanent handed over details of the top 50 developers and their loans to the NTMA. Once set up, Nama will take over about €90bn of loans from those five banks, as well as from Anglo Irish Bank, which was nationalised earlier this year.

[snip]

So what could find itself in the Nama pot?

Windy City SPIRE

Almost three years ago, Shelbourne Developments struck a deal to build one of the tallest buildings in the world, the Chicago Spire. Construction of the $1.2bn (€950m) tower -- expected to reach 610 metres -- began in summer 2007.

When the ambitious plans were announced in 2006, the company said the tower would be "the tallest free-standing structure in North America and Europe, surpassing the Sears Tower in Chicago and the CN Tower in Toronto, Canada". However, the credit crunch has stopped the tower in its tracks. Construction of the tower, which was initially due to be finished by late 2010, has been on hold since late last year "until the market improves", according to a spokeswoman for Shelbourne. The spokeswoman said the tower is still going ahead and that 40 per cent of the apartments have been sold.

However, the latest pictures -- which show that the tower is currently little more than a hole in the ground -- are unlikely to be much comfort to Anglo Irish Bank, the key backers of the project. Shelbourne paid about $64m (€51m) for the Spire site about three years ago -- and this paper understands that most of this money came from Anglo. Neither Anglo nor Shelbourne would say whether Shelbourne has paid Anglo back its loans for the Chicago Spire. As this project is only a couple of years old, chances are Anglo hasn't got its money back -- and that the Spire could make it into the mix
http://www.independent.ie/business/i...t-1782403.html

Last edited by Onn; June 26th, 2009 at 07:36 PM.
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Old June 28th, 2009, 12:27 AM   #8739
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iccc!

Where is the money?
Where is the building?
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Old June 28th, 2009, 02:34 AM   #8740
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Quote:
Originally Posted by Nomadd22 View Post
Anybody know if they're pumping the hole?
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