Foreclosure lawsuit portends end to Chicago Spire plans

10/15/2010 | International Construction online

The developer behind the proposed 2,000-foot Chicago Spire skyscraper is alleged to be in default on a $77 million loan, tolling a death knell for the project. Anglo Irish Bank has filed a foreclosure lawsuit against Shelbourne Development for the amount. The $1.2 billion project was planned for Chicago's Lake Shore Drive.

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