In The Hole

800px-Chicago_Spire_pit_smBids are due next week for the 2.2 acre site, which includes a large circular foundation at what would have been the site of the tallest skyscraper in the US – The Spire. Sellers are hoping to recoup hopefully an excess of $93 million from the sale but that could be a difficult process as foreclosure proceedings have been in courts for years with the property still owned by the developer – Garrett Kelleher.

The site sits in a highly dense, accessible and desirable area. Located just west of Lake Shore Drive and Navy Pier, the area has seen significant development to all around, including luxury condominiums, including the Aqua Tower to the South, Riverview and Parkview with demand from potential residents still on the rise.

The “hole” is described as 76 ft cylindrical hole.

If the Spire was built, it would have dramatically changed Chicago’s skyline. The Spire was marketed by Shelbourne Development and @properties.

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*Images of The Spire model unit

Chicago Spire (1) - Copy Chicago Spire (2) - Copy Chicago Spire (3) - Copy Chicago Spire (4) - Copy Chicago Spire (5) - Copy Chicago Spire (6) - Copy Chicago Spire (7) - Copy

Sherwin L. Sucaldito, REALTOR®, GREEN, ABR, CRPM
The Institute of Luxury Home Marketing
Green REsource Council, GREEN
Accredited Buyer’s Representative , ABR
Certified Residential Property Manager, CRPM
Creative Commons License
Photo of “The Hole” by Daniel Schwen and published using the Creative Commons Attribution-Share Alike 3.0 Unported license.