chicago-condos Dave on 22 Oct 2008 10:38 am

Lawsuits filed against Chicago Spire

The Chicago Spire is one of the most anticipated new projects on the real estate market in the city.  However, the future of the project could be in jeopardy as contractors and even the building’s architect have filed liens against the developer.

Santiago Calatrava filed a lien for more than $11 million against the developer, Shelbourne Development.  The Chairman of Shelbourne Development, Garrett Kelleher, has also filed liens against the owner of the site, Shelbourne North Water Street LP, also owned by Mr. Kelleher.

Construction on the 150-story building is scheduled to wrap up in 2010.  Buyers can currently choose from a total of 1,193 condominiums, with floor plans ranging from one to four bedrooms.  Prices for these units start at $750,000 for the smallest one-bedroom and one-bath unit to as much as $40 million for the largest four-bedroom and three-bath penthouse.  The development will offer the finest amenities, as well as unbeatable lake and city views.

However, buyers will have to keep up with the latest news to understand the complex legal issues surrounding the Chicago Spire.  Keep up to date with the latest news on Chicago Condos and stay on top of the market.

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