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  #921  
Old Posted Oct 1, 2008, 8:48 AM
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As messed up as the markets are right now, I'm surprised at anything without 100 percent sure financing moving forward.

Six months ago, the Spire being on hold would've upset me. Right now it seems natural and necessary. Let the global economy get its act together, and then proceed. If that takes years ... then it takes years.

* * *

As a side note, I work at a news organization in the suburbs that until now wouldn't even mention that there was such a project as the Spire. But the moment Ty Warner buys in, it becomes news to us. The influence this guy has gained through plush animals kinda weirds me out.

But anyway, if they did give him a discount, the marketing value makes it worth it. People who who used to look at me cross-eyed when I mentioned the Spire are having conversations about it. That can only be a good thing.
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  #922  
Old Posted Oct 1, 2008, 1:57 PM
the urban politician the urban politician is offline
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If anything, this was a great deal for Ty Warner. Perfect timing for him, and I'm pretty sure he got a good bargain..
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  #923  
Old Posted Oct 1, 2008, 2:00 PM
zachary78 zachary78 is offline
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Hi guys, I think someone owes me an apology for deleting my post last week. The news I reported appears to be 100% accurate, just like every other update I've given. So... yes, the project is on hold till market stabilizes. And as soon as I know something new (hopefully a good thing) I'll be sure to update you. This building will get build sooner or later. We hope soon.


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  #924  
Old Posted Oct 1, 2008, 2:54 PM
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http://www.suntimes.com/business/roe...eder01.article

October 1, 2008

BY DAVID ROEDER

$40 million view
REAL ESTATE | Beanie Baby mogul Ty Warner ponies up big-time cash for a prime-time spot in the Chicago Spire - if it ever gets built


There must be life yet in that Beanie Babies fad. Silly me, I thought the plush toys were about as popular as Y2K software. Then I got the word from Shelbourne Development Group Inc., developer of the 150-story Chicago Spire, that Beanie billionaire Ty Warner has purchased the building's two-floor penthouse that was on the market for $40 million.

The selling price was not disclosed. However, this appears to be easily the most expensive residential sale in the Chicago area.

Kim Metcalfe, spokeswoman for Shelbourne, said the contract was signed Monday. She said the penthouse occupies the 141st and 142nd floors, or some 10,000 square feet. It will be the highest residence in what, if built, will be the tallest building in the western hemisphere.

Perhaps it's a positive sign that Warner is investing in such an expensive residence when the market for condos and other single-family sales is dead. Say what you want about Beanie Babies, but the man knows how to make money. Forbes magazine last spring estimated he was the 256th wealthiest American with a net worth of $4.1 billion.

In the last 10 years, Warner has expanded his realm into ownership of hotels, resorts and golf clubs that cater to the super-rich. He made his first purchase, the Four Seasons Hotel in New York, in 1999 and since then has added the Four Seasons Biltmore in Santa Barbara, Calif.; the San Ysidro Ranch in Montecito, Calif.; the Kona Village Resort in Hawaii, and other properties that aim for nightly rates of at least $1,000.

Warner is an intensely private man who did not respond to an interview request relayed through a business associate. But he obviously authorized Shelbourne to disclose his purchase.

The publicity has to help the developer, who has reported that almost a third of the spire's 1,200 units has been sold. Shelbourne Executive Chairman Garrett Kelleher may need to at least double that before his crews can start building skyward at 400 N. Lake Shore Drive.

If the investment climate remains foul, Kelleher in any case could be unable to complete the estimated $2 billion building. For now, Metcalfe acknowledged that the credit markets have forced construction work to slow. Underground utility work will proceed, but more visible signs of the spire will have to wait until the markets improve, she said. Completion in 2012 is still the stated goal.

The spire's swirling design, in which each floor is rotated about 2 degrees from the one below it, is the work of celebrity architect Santiago Calatrava.

Metcalfe said Warner is a Calatrava fan, loves Chicago and wants a fabulous place in it. She said Shelbourne has asked most customers for 15 percent of the purchase price as a deposit, but she could not disclose if that rule applied to Warner.

Even if the transaction is for less than $40 million, it should easily top such notable sales as a $16 million deal in 2007 for a Lake Bluff estate and a 2006 deal for an 1894 mansion at 1435 N. Astor which records indicate sold for $14.5 million.

The spire's most prestigious unit may be reserved, but the building still has four-bedroom units that ought to do in a pinch. Metcalfe said they start at $5.7 million for about 3,800 square feet. The smallest units start at $750,000, but she said many of those are sold.

Warner would reside above everything except mechanical floors and a residents-only observation floor that's supposed to be Calatrava's "gift" to the owners. If the building ever happens, Calatrava will be able to afford it.

What do you get for $40 million?
Two floors and 10,000 square feet of whatever you want
Billionaire toy and hotel mogul Ty Warner inked a deal on the penthouse in the soaring, but yet-to-be-built, Chicago Spire on Monday. While Warner has complete say over the design and layout of his palace in the sky, there are some clues as to how it might happen:

The living room?
360-degree views are a staple for the living spaces.

The bedroom?
Nearly the size of an apartment in its own right, Warner would have the option of creating a master suite in need of a map and would wake up with the Chicago skyline as his front yard.

The layout
This is the 4-bedroom suite, roughly a quarter of Warner’s space, available for about $5.7 million.

Warner, the 256th wealthiest American with an estimated $4.1 billion, is the highest-profile buyer for the project.

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  #925  
Old Posted Oct 1, 2008, 3:15 PM
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Smile last update video online!

Hiya friends and Spirefans,

today comes my last update video for the awesome Spire before my visit to Chicagoland in a few days. Enjoy!

http://de.youtube.com/watch?v=S5684SYDryo

Make sure to watch it in High Quality

Music: Picco - Yeke Yeke (STFU Remix)

Your german Chicagofan and Videomaker Andy
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  #926  
Old Posted Oct 2, 2008, 12:45 AM
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Oct 01 - lunch

From above



higer res
2007 series
2008 Q1 series
2008 Q2 series
2008 Q3/4 series

SE corner





The park




Huen Electric Web site



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  #927  
Old Posted Oct 2, 2008, 2:17 AM
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Hi all.

Lets not forget to thank Harry for his excellent updates. I guess he will continue posting them at SSC if this thread gets closed. Just because there is not much happening there is no need to belittle his efforts by posts of "pics that point to nothing of significance".

Thanx Harry and keep up the good work.

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  #928  
Old Posted Oct 2, 2008, 5:03 PM
ChicagoChicago ChicagoChicago is offline
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^^
Agreed. Thanks Harry, from those of us that don't get to see the site every day.
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  #929  
Old Posted Oct 2, 2008, 7:51 PM
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Smile

agreed Harrys awesome photos are the highlight of this and many more forums. Maybe I have the honor to meet this great guy next week I just noticed that the Chicago Marathon will take place on the 12th, lol, totally missed that in my plannings. Hope the city isnt too crowded
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  #930  
Old Posted Oct 2, 2008, 11:32 PM
America 117 America 117 is offline
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Beanie Babies can buy deluxe apartment in sky

—Mary Ellen Podmolik
October 1, 2008

How many Beanie Babies would it take to buy the penthouse suite at the yet-to-be-built Chicago Spire? Maybe $40 million worth.

Right now the Spire is just a hole in the ground. But the local businessman who had the vision to make Beanie Babies a household name is betting millions of dollars that the skyscraper will eventually be built.

Ty Warner, the reclusive founder and chief executive officer of Westmont-based toymaker Ty Inc., has signed a contract to buy the sprawling 10,000-plus-square-foot unit on floors 141 and 142 of the Spire.

The unit, which would be the tallest residential floor in the world, carried an asking price of $40 million. The actual sales price was not disclosed, and calls to Warner were not returned.

http://www.chicagotribune.com/busine...0,626642.story

http://chicagoist.com/2008/09/30/bea..._to_the_to.php
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  #931  
Old Posted Oct 3, 2008, 12:13 AM
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Well, I will finally get the chance to set my eyes on the hole tomorrow as I finally make it to Chicago. Can't wait to see the change. By the way, if anyone knows affordable (under $100) hotels in the city, PM me. Otherwise it is Des Plains or something. Chicago is an expensive hotel town.
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  #932  
Old Posted Oct 3, 2008, 12:19 AM
America 117 America 117 is offline
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Ya right!!!
unless you go to priceline.com
other then that the best your going to get under $100 would be a 3 star hotel out of the down town area.
sorry im geting off topic
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  #933  
Old Posted Oct 3, 2008, 12:43 AM
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sorry for continuing the OT, but thanks for the suggestions. A hundred bucks is a hundred bucks, so it looks like O'Hare area for me.

I am looking at google satellite views, where are you guys getting those views from? Wacker?

In lovely Kenosha at the moment.
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  #934  
Old Posted Oct 3, 2008, 12:50 PM
trvlr70 trvlr70 is offline
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It is promising news that the international marketing road show will start up again next year.

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  #935  
Old Posted Oct 3, 2008, 1:17 PM
honte honte is offline
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Fall Newsletter

Here is the text of the fall newsletter, for those who didn't get it:

_________

VIEW FROM THE TOP - AND THE BOTTOM

One of the very best views in the United States has just been snapped up by a Chicago businessman. Sitting atop the 2,000 ft Chicago Spire, the 10,000+ sq. ft penthouse enjoys a 360 degree panorama of the famous Chicago skyline and beautiful Lake Michigan. Spanning two floors, this spectacular penthouse apartment will be the highest private residence in the world.




WRITTEN IN STONE

Local buyers and their friends and family attended a rather special event at The Chicago Spire. On September 20th, we celebrated the completion of the first phase of construction with entertainment in an on-site marquee from one of the city’s most popular blues bands.


Future residents were given special access to the 110 foot wide by 80 foot deep building foundation, the deepest in the history of Chicago. There they signed their names on one of the super-structure’s eight 400 ton support rings. This enormous void will soon be filled with over 200,000 cubic yards of concrete and 70,000 tons of steel as the foundations are laid for the world’s tallest private residential building.


VIEW FROM THE CITY(SCAPE)

The Chicago Spire is continuing its global presence in the world's luxury real estate arena and is about to take a starring role at Cityscape Dubai. Historically one of the world’s largest real estate and investment events the four day event attracts thousands of people from all over the globe. Come and visit us on-stand, where you can find out more about the opportunities available at The Chicago Spire and see a beautiful scale model of this iconic building.

Asteco Property Management stand
Hall 7, Booth 7G30
Dubai International Exhibition Centre


The event runs from Monday 6 October to Thursday 9 October, from 10.00am to 7.00pm daily.

Chicagoans and visitors to the city can discover for themselves the truly impressive nature of this development by visiting the 20,000 sq. ft. Chicago Spire Marketing Suite at:


NBC Tower
455 North City Front Plaza
18th floor
Chicago, IL 60611
+ 1 312 516 4800


Opening hours:
Monday–Friday 10am–6pm
Saturday–Sunday 11am–5pm

*Appointments Recommended

The Chicago Spire by Santiago Calatrava.
The most significant residential development in the world.
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  #936  
Old Posted Oct 3, 2008, 4:02 PM
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"Chicagoans and visitors to the city can discover for themselves the truly impressive nature of this development by visiting the 20,000 sq. ft. Chicago Spire Marketing Suite at"

I wonder if I give them a call if I could visit it too or is it just for serious buyers?
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  #937  
Old Posted Oct 3, 2008, 5:10 PM
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Quote:
Originally Posted by andydie View Post
agreed Harrys awesome photos are the highlight of this and many more forums. Maybe I have the honor to meet this great guy next week I just noticed that the Chicago Marathon will take place on the 12th, lol, totally missed that in my plannings. Hope the city isnt too crowded

I am going to make a motion to hold a overdue forum meet for the weekend that you are here. Andy, Pick a day and time that works for you...
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  #938  
Old Posted Oct 3, 2008, 6:15 PM
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ethereal_reality ethereal_reality is offline
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Andydie, from what I've heard anyone can visit the Chicago Spire
sales center.
Several forumers from this site have already gone (take your camera).

You'll find Chicagoans very friendly.
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  #939  
Old Posted Oct 3, 2008, 6:18 PM
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Quote:
Originally Posted by Chicago Shawn View Post
I am going to make a motion to hold a overdue forum meet for the weekend that you are here. Andy, Pick a day and time that works for you...
well my suggestion would be on Saturday the 11th at a time that is best 4 you all cause most will work during the week. As you know Chicago better than me I let you choose the location. Also thanx ethereal for the info
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  #940  
Old Posted Oct 4, 2008, 7:00 PM
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Oct 03 - am

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