The Chicago Spire may have new hope of becoming something beyond a really expensive hole in the ground. According to a report by the Tribune, the building's developer, Garrett Kelleher, is slated to meet with today leaders of AFL-CIO pension investment trusts which could get the ball rolling on a new loan. That land loan would total $170 million and, according to the Trib, "would retire Shelbourne Development Group Inc.'s loan from Anglo Irish Bank, pay off liens and restart work on a project dormant for more than a year." If this sounds familiar it's because similar talks happened earlier this year but were shelved when the trusts decided to make a potential deal to help build an Olympic Village the top priority. With the Olympics not coming to Chicago, that's put the Spire back at the top of the list. Per the Trib: more ›

Already responsible for The City's Most Expensive Hole In The Ground, Spire developer group Shelbourne Development Group Inc. is in more hot water as their sales center is facing eviction from its current home in NBC Tower. Crain's reports that a complaint filed in Cook County Circuit Court claims that Shelbourne hasn't paid rent since April 1 and owes over $300,000 for the space which takes up the entire 18th floor. It's not the only legal wranglings Shelbourne's been involved in; remember, they were sued by Bank of America back in August for allegedly defaulting on a loan. A spokeswoman for Shelbourne said in a statement, “The issue is a typical tenant/landlord dispute that we expect to be resolved amicably. During our time there, we've experienced a few minor issues, and hope the management is more responsive to our concerns.” And, in a display of optimism that suggests Shelbourne lives in a land of rainbows, leprechauns, and unicorns, she added, “The Chicago Spire project is very much alive and yes, we are still talking to potential buyers interested in purchasing units." more ›

You know that giant hole at 400 N. Lake Shore Drive where the Spire was supposed to rise and tower over the city? Well don't expect it to be back-filled just yet. Despite construction being halted a year ago and the developer being sued this past summer, Spire architect Santiago Calatrava says the project is not dead. He asked for "patience" about the Spire -- he pointed out that one of his projects took 13 years to come to completion. The Spire's developer, Garrett Kelleher, also told the Trib's Blair Kamin that people are still showing up at the sales center, and the company recently arranged for new financing. [Trib] more ›

There was a lot going on this weekend so we can understand if you didn't have a chance to peruse the site. And we're sure you're already cracking at work, so here are some helpful links from our weekend coverage that might help you catch up on what you missed. more ›

It's looking less and less likely that the city's most expensive hole in the ground will ever become the beautiful butterfly of a spire it was meant to be. Bank of America has filed suit against Shelbourne Development Group Inc., the developers of the Chicago Spire. We're not even going to pretend like we can fully comprehend the ins-and-outs of the financial wrangling going on here - we'll let Bloomberg do that - but given the continual financial difficulties of the buildings, we're guessing the day the Spire opens for business is the day Mayor Daley makes the city government fully transparent. more ›

The infamously embattled Chicago Spire may have found new life in its battle to simply get built. While right now it remains Chicago's most famous hole in the ground, developer Shelbourne Development Groupis scheduled to meet today with members of the AFL-CIO Housing Investment Trusts to discuss using some pension funds to get the building's construction going again. Construction was halted last fall and, earlier this year, the financial woes of the developer deepened thanks to fallout from the economic crisis in Ireland. more ›

If at first you don't succeed, try try try try again. As we told you yesterday, the oft-delayed installation of the Trump Tower spire is finally complete. And now comes this fantastic pic of the magical moment, courtesy of reader scrapplequeen. Hooray for closure! Now about that Chicago Spire... more ›

The spire atop of Donald Trump’s began the final stages of installation today, after months of weather delays. When all is finally installed, tThe Trump Tower will now stands at 1,361 feet, only 90 feet shorter than the Sears Tower. This will make the Trump Tower the second tallest building in Chicago and the nation. more ›

Photo by spudart