Irish Bank Sues to Foreclose on Chicago Spire

It's supposed to be one of America's iconic skyscrapers, but Chicago's problem-plagued Spire is a step closer to being Irish-owned today after a lender filed to take possession of the under-construction project, the AP reports. Anglo Irish Bank has filed a $77 million foreclosure lawsuit against Irish developer Garrett Kelleher, claiming default on loans that matured a year ago.

The lawsuit adds to Kelleher's woes—consultants have filed multimillion dollar liens against the developer claiming unpaid compensation. Anglo Irish, which is run by the Irish government after a takeover last year, is expected to take control of the 2.2 acre site left vacant the past two years by the miserable economy. For more on the Spire project, click here.