Spire Taxes Also Sky High

By Margaret Lyons in News on Apr 23, 2008 4:02PM

Developers for the Chicago Spire failed to pay over $400,000 in property taxes. A spokeswoman blamed a mailing problem, saying the tax bills had gone to the wrong address...but is it a symptom of a bigger problem?

From Crain's:

[T]he failure to manage a routine task like property taxes raises questions about [developer Garrett Kelleher]’s ability to complete a multi-billion dollar project that demands the highest level of concentration.
...
The tax gaffe is one of several missteps for Mr. Kelleher as he endeavors to build the 1,194-unit skyscraper. In November, he abruptly learned that he did not control a key parcel where he had intended to build.

While Mr. Kelleher has altered the below-ground plans for the project, a lawsuit filed by neighbors in Cook County Circuit Court is still pending.

In September, Mr. Kelleher pushed back the start of condo marketing until January because of a delay with regulatory filings required by the federal government.

Sales teams for the Spire have been traveling the world looking for people who want to buy units. Currently, reps are in China looking for prospective buyers. [Crain's, China View, rendering from the Spire site, which plays music]