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View Poll Results: Do you think that the Chicago Spire will ever be completed, or the project will be given up??
Yes, it will be completed 60 66.67%
No, like thats going to happen 30 33.33%
Voters: 90. You may not vote on this poll

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Old 09-17-2008, 07:34 AM
 
Location: Chicago
4,688 posts, read 10,102,964 times
Reputation: 3207

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Quote:
Originally Posted by ARFeno1 View Post
It's going to happen; I read in Esquire magazine some more details about it and it is set to be complete in 2012. I doubt they would put it in a nationally circulated magazine if there were a chance it may not be completed.
Well if they put it in Esquire!

Kidding aside, I would've said this was a near sure thing up until three months ago, but there are hundreds of billions of dollars disappearing from the market right now. I just don't see how Kelleher can secure the financing to build this thing, when a global sales push only sells 350 units.
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Old 09-17-2008, 02:14 PM
 
Location: IL
381 posts, read 842,184 times
Reputation: 92
Bad timing to build such a massive building in times like these. I hate to think to have an empty lot with a hole in it where a brilliant residential tower should have been. Not only will it remind me of Chicago's lack of follow through but the status of present and future economy. The building needs $$ which the world is not willing to give.
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Old 09-17-2008, 07:51 PM
 
Location: Chicago
15,586 posts, read 27,597,919 times
Reputation: 1761
Quote:
Originally Posted by jdiddy View Post
...I just don't see how Kelleher can secure the financing to build this thing, when a global sales push only sells 350 units.
How many units are supposed to be in the building?
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Old 09-17-2008, 10:32 PM
 
11,975 posts, read 31,776,941 times
Reputation: 4644
I'm really hoping the credit markets stabilize soon and that construction loans remain available. If not, I may not have a job in six months!
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Old 09-18-2008, 07:35 AM
 
2,329 posts, read 6,631,507 times
Reputation: 1811
Quote:
Originally Posted by Avengerfire View Post
How many units are supposed to be in the building?
Around 1200
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Old 09-18-2008, 07:29 PM
 
Location: Chicago
15,586 posts, read 27,597,919 times
Reputation: 1761
Quote:
Originally Posted by via chicago View Post
Around 1200
Well to have about a third sold already and only some of the foundation work has been done is not too bad is it?
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Old 09-18-2008, 09:18 PM
 
Location: Arizona
3,763 posts, read 6,706,969 times
Reputation: 2397
Yes it will, it may take a bit longer then we hoped but it will happen
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Old 09-18-2008, 09:21 PM
 
11,975 posts, read 31,776,941 times
Reputation: 4644
Quote:
Originally Posted by Avengerfire View Post
Well to have about a third sold already and only some of the foundation work has been done is not too bad is it?
Ask the people who bought units at the Waterview Tower...
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Old 09-18-2008, 09:25 PM
 
Location: Chicago
15,586 posts, read 27,597,919 times
Reputation: 1761
Quote:
Originally Posted by Lookout Kid View Post
Ask the people who bought units at the Waterview Tower...
How much of Waterview Tower is sold? Show me a link.
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Old 09-18-2008, 10:49 PM
 
Location: Chicago - Logan Square
3,396 posts, read 7,208,408 times
Reputation: 3731
Quote:
Originally Posted by Avengerfire View Post
How much of Waterview Tower is sold? Show me a link.
Here's a link. they've been claiming almost 70% of the of the condo units under contract and almost half of the hotel units sold, but those numbers are questionable. Regardless, they have certainly sold more units than the Spire. Waterview has been a very poorly managed project from the get go, and the Spire, by most indications, has been much better about not spending money they don't have, but they have had their own problems as well. I agree that it may take awhile longer, but it will be completed.
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