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  #1021  
Old Posted Oct 15, 2008, 2:23 AM
i_am_hydrogen i_am_hydrogen is offline
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^^^
How could they sue if they were dead?
Wrongful death action by the decedent's family members.
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  #1022  
Old Posted Oct 15, 2008, 8:59 PM
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Smile my site visit 10/9

thats how the site looked when i visited it 10/9 around 2pm:





























DuSable Park Site:






Lets all hope it will be build rather sooner than later
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  #1023  
Old Posted Oct 16, 2008, 12:36 AM
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Oct 15 - lunch

From above



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

These green pipes must be in the secondary caisson, to be tapped into later ?


Now there will be a only 1 bar within 2 blocks of the spire.


Inspired by nature.






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  #1024  
Old Posted Oct 16, 2008, 6:03 PM
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.
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Last edited by Steely Dan; Oct 17, 2008 at 10:11 PM.
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  #1025  
Old Posted Oct 16, 2008, 6:52 PM
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Tom In Chicago Tom In Chicago is offline
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Apparently the weekend has started early. . . the Chicago Spire post is taking a few days off. . . seeing as there is nothing relevent to discuss here I'm shuttin' her down for a bit. . . enjoy the weather while it's still nice everyone

. . .
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  #1026  
Old Posted Oct 17, 2008, 10:05 PM
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Calatrava stops work on Spire, files lien

Calatrava stops work on Spire, files lien
By Eddie Baeb, Oct. 17, 2008
http://www.chicagorealestatedaily.com

(Crain’s) — Renowned Spanish architect Santiago Calatrava has stopped working on the Chicago Spire, claiming the developer hasn’t paid $11.34 million he’s owed for his work on the planned 2,000-foot twisting tower.

The lien against Dublin, Ireland-based Shelbourne Development Ltd., along with another by architecture firm Perkins & Will Inc. for $4.85 million, is the latest sign that the planned 150-story tower is struggling to get out of the ground.

A venture affiliated with Mr. Calatrava filed a lien Oct. 8 with the Cook County Recorder, saying it suspended work on the Spire July 16 because of non-payment.

Chicago-based Perkins & Will also filed a lien Oct. 8 against Shelbourne and Mr. Calatrava’s venture, Festina Lente (IL) Ltd., saying the company is owed $4.85 million for its work on the project as architect of record. Perkins & Will in the lien says its last date of work was June 16.

A Shelbourne spokeswoman says the developer plans to dispute the liens, and that there are questions about whether the $11.3 million claimed by Mr. Calatrava is a “proper amount.” She says Shelbourne Executive Chairman Garrett Kelleher was out of the country and unavailable for comment.............................
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Last edited by Chicago3rd; Oct 17, 2008 at 10:15 PM.
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  #1027  
Old Posted Oct 17, 2008, 10:07 PM
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^ Well, that sucks.

I hope Chicago gets the Olympics
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  #1028  
Old Posted Oct 17, 2008, 10:12 PM
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i can't wait to hear how the PR people in the sales office spin all of this.

not good at all.
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  #1029  
Old Posted Oct 17, 2008, 10:14 PM
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Originally Posted by Steely Dan View Post
i can't wait to hear how the PR people in the sales office spin all of this.

not good at all.
Nail in the coffin, unfortunately.

If you're going to pay anyone, pay Calatrava.
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  #1030  
Old Posted Oct 17, 2008, 10:16 PM
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Originally Posted by Steely Dan View Post
i can't wait to hear how the PR people in the sales office spin all of this.

not good at all.
Just found out earlier today that 1/2 of the sales office was laid off about one week or so ago. Didn't have proof to print it...but a person who does developments in my company told me today.
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  #1031  
Old Posted Oct 17, 2008, 10:19 PM
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It's fair to say that this is definitely "on hold" and not just "pending".
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  #1032  
Old Posted Oct 17, 2008, 10:22 PM
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It's fair to say that this is definitely "on hold" and not just "pending".
yeah, there's really no use in deluding ourselves any longer.
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  #1033  
Old Posted Oct 17, 2008, 10:53 PM
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A major blow to the Spire, but Calatrava previously stated about the fate of this tower, and now he only just confirmed it.

Unless these issues can be settled between all the parties, this ones all but dead (given also the economic state).
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  #1034  
Old Posted Oct 17, 2008, 11:02 PM
Miguel Rodriguez Miguel Rodriguez is offline
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What are the possible ways that this could be resolved by years end?

Even if things were worked out financially in the next couple months, wouldn't there be a chance that everybody would go separate ways anyway?

-An upset Spire fan
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  #1035  
Old Posted Oct 17, 2008, 11:15 PM
chicubs111 chicubs111 is offline
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I know it doesnt sound good but i dont understand what they mean by calatrava stops work...the building is already designed isnt it?...I mean we already knew that shelbourne stated there is gonna be a work stoppage or slowing down that is gonna take place until the markets get better...im sure shelbourn can pay both of thos liens if they are accurate since there not astronimically crazy amounts of cash...but still definlty not positive news at all
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  #1036  
Old Posted Oct 17, 2008, 11:27 PM
JMO_0121 JMO_0121 is offline
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Unhappy

I hope i didnt spend more than a year just looking at a hole for NOTHING!!!
Depressing news
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  #1037  
Old Posted Oct 17, 2008, 11:32 PM
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Amazing to see 2 supertalls in Chicago on hold, not good.
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  #1038  
Old Posted Oct 17, 2008, 11:42 PM
denizen467 denizen467 is offline
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but Calatrava previously stated about the fate of this tower,
What and when?
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  #1039  
Old Posted Oct 17, 2008, 11:45 PM
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What and when?
It's on a previous post. In it, he stated about doubts he was having on the tower.
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  #1040  
Old Posted Oct 17, 2008, 11:47 PM
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Official Article:

Crain's Chicago Business

Calatrava stops work on Spire, files lien

By: Eddie Baeb Oct. 17, 2008

(Crain’s) — Renowned Spanish architect Santiago Calatrava has stopped working on the Chicago Spire, claiming the developer hasn’t paid $11.34 million he’s owed for his work on the planned 2,000-foot twisting tower.

The lien against Dublin, Ireland-based Shelbourne Development Ltd., along with another by architecture firm Perkins & Will Inc. for $4.85 million, is the latest sign that the planned 150-story tower is struggling to get out of the ground.

A venture affiliated with Mr. Calatrava filed a lien Oct. 8 with the Cook County Recorder, saying it suspended work on the Spire July 16 because of non-payment.

Chicago-based Perkins & Will also filed a lien Oct. 8 against Shelbourne and Mr. Calatrava’s venture, Festina Lente (IL) Ltd., saying the company is owed $4.85 million for its work on the project as architect of record. Perkins & Will in the lien says its last date of work was June 16.

A Shelbourne spokeswoman says the developer plans to dispute the liens, and that there are questions about whether the $11.3 million claimed by Mr. Calatrava is a “proper amount.” She says Shelbourne Executive Chairman Garrett Kelleher was out of the country and unavailable for comment.

“The amount will be disputed,” the spokeswoman says. “These liens, both of them, are sort of the normal course of business for these companies to protect themselves. That’s fully in their right to do that, and we will work to resolve them.”

A lien is a claim against a property used to secure an unpaid bill. Liens aren't always a sign of trouble, as they can result from contract disputes, but they can be red flags indicating that a developer is having trouble paying its bills.

Shelbourne last month said the worldwide economic downturn has prompted the firm to postpone construction of the Spire’s above-ground structure at 400 N. Lake Shore Drive. Underground utility work continues at the site, the spokeswoman says, where the foundation has been built.

Calls to Mr. Calatrava and his lawyer in the matter weren’t returned.

Perkins & Will’s attorney declines to comment, and managing director Raymond Clark didn’t respond to messages.

Last month, Shelbourne increased the amount of its loan on the site with Anglo Irish Bank Corp. Shelbourne borrowed an additional $15 million, according to property records, bringing the loan’s principal amount up to $69.5 million from the $54.5 million first borrowed in July 2006.

The spokeswoman would say only that the additional $15 million will be used for project costs, but not to pay the architects.

Shelbourne has not yet obtained a construction loan for the building, which would be the tallest structure in North America and has been projected to cost as much as $2 billion.

At the end of the third quarter, 395 of the Spire’s planned 1,194 condominiums were under contract with buyers. That’s up sharply from three months earlier, when 171 were under contract, according to data from Schaumburg-based consulting firm Tracy Cross & Associates Inc.

“We are doing very well,” says a spokeswoman, who confirms Tracy Cross’ figures. “We will come out on the other end of this.”


Copyright © 2008 Crain Communications, Inc.
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