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Old July 8th, 2009, 10:13 PM   #8761
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Quote:
Originally Posted by Imperfect Ending View Post
Odd location for houses that size.
Why do you think it's odd for that location?
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Old July 8th, 2009, 11:38 PM   #8762
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Here's a couple new perspecitives of the hole.....oh what could have been (or still might be!)




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Old July 9th, 2009, 01:48 AM   #8763
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Awesome pictures! Did Navy Pier expanded recently? I don't remember see that before when I was in Chicago.
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Old July 9th, 2009, 03:04 PM   #8764
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Quote:
Originally Posted by Destroyed007 View Post
Bet the spire is thinner than I thought by just comparing that hole with the bases of other towers.
Actually the tower will be a good bit larger around than the hole. The hole is just for the core, there are seven cassons around it bit more supportive the outer perimeter of the building and almost all of the open area will be excavated (top down construction) to create an underground garage.
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Old July 9th, 2009, 06:14 PM   #8765
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I wonder what floor the Spire would be up to if construction never stopped?

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Old July 9th, 2009, 07:35 PM   #8766
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The Spire would be in the perfect location to complete 5 'points' of Chicago. In the last picture it looks like Trump, Sears, (sorry, I don't know the names of two of the tall towers) and Spire are all similar distances from each other.

We should all donate to the FiTS fund (Finish The Spire)

Last edited by Viperfreak2; July 9th, 2009 at 07:44 PM.
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Old July 9th, 2009, 07:58 PM   #8767
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The AON Centre (white) is 83 storeys, 1136' and John Hancock (black) is 100 storeys, 1127'.
With Sears and Trump they make the four Chicago supertalls (disregarding AT&T).
They should have been joined by CS and Waterview, but both lack the finance to continue.
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Old July 9th, 2009, 10:16 PM   #8768
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don't forget Two prudential plaza which is also a supertall
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Old July 10th, 2009, 02:52 AM   #8769
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July 09

From above


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

July 3rd
The hole thing


Big attraction as people walk home from the fireworks



full size

July 09
Electrical contractor - must be top notch they have an office in Waukegan !


Bridge inpsectors ( inspecting the ramps, seen here being tourists drawn to the hole ).




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Old July 10th, 2009, 01:33 PM   #8770
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if they are inspecting the ramps, will this mean that construction soon will begin?
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Old July 10th, 2009, 02:49 PM   #8771
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Quote:
Originally Posted by Msradell View Post
Actually the tower will be a good bit larger around than the hole. The hole is just for the core, there are seven cassons around it bit more supportive the outer perimeter of the building and almost all of the open area will be excavated (top down construction) to create an underground garage.
Yeah, I should've known that the core was included.
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Old July 10th, 2009, 04:49 PM   #8772
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I had no idea the trump tower was right around the corner.

I haven't checked the forum in a while, too bad there haven't been any news. This is the one building that just has to be built. Many i could do without, but this design is just one of a kind.
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Old July 11th, 2009, 09:24 PM   #8773
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Unique aerial photos of the Spire Hole and potential impact on the skyline by cbotnyse from SSP.



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Old July 11th, 2009, 09:30 PM   #8774
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It depends on whether Shelbourne Dev can pay back the loans it took out to develope the project whether it goes ahead. Unless a new financier bails them then I don't see how this can go ahead, at least for the time being. I read somewhere, can't recall where, they have till the end of the year then the site is going to be transfered to the toxic asset agency. A race against time.


The very latest I can find from June 30th

Quote:
Ireland’s National Bank May Take Over Spire Loan



This comes along with news that Ireland’s National Asset Management Agency (Nama) may take control of the loan’s that Garrett Kelleher’s Shelbourne Development took out from the Anglo Irish Bank to purchase the Spire site. Nama was formed as a sort of national bank to deal with the bad loans of about six of Ireland’s most troubled banks. How that will effect the Spire remains to be seen. O’Connell told The Irish Times that, “In the short term it’s going to mean uncertainty for developers, bankers and investors alike, but it’s the key to the resurrection of this market over the next decade and its going to generate significant business opportunities at a number of different levels.”

The Irish Independent reported that a Shelbourne spokeswoman insists that the Spire is still just “on hold” and that 40% of the 1,190 Chicago condos have gone under contract. Whether Nama will hold onto the Shelbourne’s loan or make a move to take over the construction site and project is anyone’s guess. But with the size and cost of the project, along with the still sluggish market for Chicago Luxury Condos, chances are we may already know the answer.
Alot of mixed messages. Visibly the site is clearly "on hold" and/or completely dead yet no concrete word anywhere on whether they will proceed with construction. It just has all the hallmarks of the silence of a potentially bankrupted developer.
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Last edited by odlum833; July 11th, 2009 at 09:56 PM.
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Old July 11th, 2009, 11:14 PM   #8775
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Quote:
Originally Posted by Viperfreak2 View Post
The Spire would be in the perfect location to complete 5 'points' of Chicago. In the last picture it looks like Trump, Sears, (sorry, I don't know the names of two of the tall towers) and Spire are all similar distances from each other.

Hummmm... I feel that the gap between Hannock and the 'river towers' (Trump, Spire, Astoria) cold use a little something. Actually... a big something.
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Old July 11th, 2009, 11:38 PM   #8776
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Quote:
Originally Posted by odlum833 View Post
It depends on whether Shelbourne Dev can pay back the loans it took out to develope the project whether it goes ahead. Unless a new financier bails them then I don't see how this can go ahead, at least for the time being. I read somewhere, can't recall where, they have till the end of the year then the site is going to be transfered to the toxic asset agency. A race against time.
It's possible another developer could pick up the Spire project, if Shelbourne falls through. A lot of work has been done on the site already, the project could come at a bit of a bargain for a foreign developer. People are certainly interested, this is not a hated project. Regardless, it's not like anyone is racing to build on that site in this economy. The hole could sit there for some time to come. There was nothing even on the site for more than a decade before construction started...

Last edited by Onn; July 11th, 2009 at 11:44 PM.
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Old July 11th, 2009, 11:43 PM   #8777
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A developer could buy the development outright and build it themselves. The problem is that once the land is transfered as a toxic asset - that's it, it can't be developed and the land won't be sold for many many years. In this economic environment you would have to wonder what developer would take the risk? What developer would buy out this site from Shelbourne Dev who took a loan from a corrupt failed bank that it now can't repay? Maybe there are those who would be interested - but they would have to take it pretty soon.

I hope someone rescues this btw. I really like it.
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Last edited by odlum833; July 11th, 2009 at 11:50 PM.
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Old July 11th, 2009, 11:52 PM   #8778
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Yes, but there is no rush to build on the Spire site. Even if Shelbourne comes out tomorrow saying they are canceling the Spire project and defaulting the land, there is still a huge amount of underground infrastructure already in place. I highly doubt another developer is going to buy the site later on and rip all that out. There probably going to try to use it. And the way the site is laid out already, they may have no choice but to except some form of the Spire project. Or another project of similar magnitude. If the underground components are already there, why not use them?
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Old July 11th, 2009, 11:54 PM   #8779
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That actually leads me on to another question not about the developer - but should'nt the "hole" structure be covered? It's open to the elements.
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Old July 12th, 2009, 12:02 AM   #8780
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I don't think it matters, anything that has been done underground is in the same form it would be if the Spire was built. The caissons are already in place, as is electrical, gas, and plumbing. There is nothing in the hole yet, so it's just dirt at the bottom. All they did was put a fence around it, so no one falls in I guess; while the project is on hold.
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