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Chicago Spire developer scales back on sales office - Chicago Breaking Business
By admin | May 18, 2010
Chicago Spire developer scales back on sales office - Chicago Breaking Business
Chicago Spire developer scales back on sales office
Published on May 17, 2010 9:52 AM | Submit a comment
Spire-Two-Web.jpgThe site for the proposed Chicago Spire skyscraper sits abandoned on April 1, 2010 in Chicago, Illinois. Work was suspended after the builder ran into financial troubles in 2008. (Scott Olson/Getty Images)
By Mary Ellen Podmolik | The developer behind the Chicago Spire closed its posh sales office over the weekend, relocating the marketing arm for the long-stalled project to a much less grand office space nearby.
Shelbourne Development Group, which has been battling the owner of the NBC Tower for nine months, consolidated the sales function into its own office space at 111 S. Wacker. A spokeswoman for Spire developer Garrett Kelleher denied that the move signaled that the project was dead.
“He’s being smart,” the spokeswoman said. “If you’re in a situation where things are slowing down, you need to consolidate and you need to be smart. Clearly the economy has been tough and he’s had to focus on areas of his portfolio that are doing well.”
Topics: money talks, Just Talk, real estate reads |
