Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Economy May Cripple Chicago Spire Project

Consultants file liens against world's tallest skyscraper

By Wesley Oliver,  Newser Staff

Posted Oct 19, 2008 2:06 PM CDT
Email

(Newser) – The sputtering economy could topple plans to erect the nation’s tallest skyscraper, reports the Chicago Tribune. Consultants on the construction of the Chicago Spire have filed liens, with celebrity architect Santiago Calatrava seeking more than $11.3 million and a Chicago-based firm demanding $4.85 million. The developer’s spokesman acknowledged the economy’s effect on the project, calling the market “the 800-pound gorilla in the room.”

But “these guys have been paid well,” she added, insisting sales at the Spire, which would be one of the world’s tallest buildings, are going “very well.” More than 30% of its units have been sold. Along with the city’s bid to host the 2016 Summer Olympics, the Spire marks Chicago’s aspirations to become a global city.

Italian architect Santiago Calatrava filed a lien against the Chicago Spire's developer, seeking more than $11.3 million in payment.
Italian architect Santiago Calatrava filed a lien against the Chicago Spire's developer, seeking more than $11.3 million in payment.   (AP Photo/Charles Rex Arbogast)
A free standing model of Italian architect Santiago Calatrava's Chicago Spire, a 150-story lakefront tower he designed, is displayed during a media tour of the sales office in Chicago.
A free standing model of Italian architect Santiago Calatrava's Chicago Spire, a 150-story lakefront tower he designed, is displayed during a media tour of the sales office in Chicago.   (AP Photo/Charles Rex Arbogast)
Currently the Spire site is simply a circular hole that is surrounded by caissons to support the skyscraper's concrete core. A homeowner's association told residents that construction had been halted.
Currently the Spire site is simply a circular hole that is surrounded by caissons to support the skyscraper's concrete core. A homeowner's association told residents that construction had been halted.   (AP Photo/Shelbourne, Brian Kersey)
An artist's rendering of the base of a 2,000-foot twisting spire that would be the tallest building in North America if Spanish-born architect Santiago Calatrava's plan comes to fruition.
An artist's rendering of the base of a 2,000-foot twisting spire that would be the tallest building in North America if Spanish-born architect Santiago Calatrava's plan comes to fruition.   (AP Photo/Shelbourne Development Ltd.)
Italian architect Santiago Calatrava looks at a model as he talks about The Chicago Spire, a 150-story lakefront tower he designed.
Italian architect Santiago Calatrava looks at a model as he talks about The Chicago Spire, a 150-story lakefront tower he designed.   (AP Photo/Charles Rex Arbogast)
A model living area is shown at the sales center for Italian architect Santiago Calatrava's Chicago Spire, a 150-story lakefront tower he designed, during a media tour of the sales office in Chicago
A model living area is shown at the sales center for Italian architect Santiago Calatrava's Chicago Spire, a 150-story lakefront tower he designed, during a media tour of the sales office in Chicago   (AP Photo/Charles Rex Arbogast)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

Calatrava's action could repel buyers
Chicago Sun-Times

Even the Donald has been hit by the faltering economy
Chicago Tribune

Beanie Babies magnate nabs Spire's penthouse
Chicago Sun-Times

US • Money

 
Chicago • construction • Santiago Calatrava • skyscraper • Chicago Spire • credit market • famous buildings

More Newser Stories

Irish Bank Sues to Foreclose on Chicago Spire

Dubai Fetes Tallest Building

Willis What? Sears Tower Changes Names

Trump in Trouble on Chicago Tower

Chicago's Spire Condos May Be a Tough Sell
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne