CHICAGO-The evolving bankruptcy case involving the Chicago Spire project has offered developer Garrett Kelleher a bit of time to devise a plan to pay off the project's creditors.
Keller's attorney Thomas Murphy says the Irish developer is in talks with investors interested in providing financing for the troubled venture, according to Crain's Chicago Business. He has until March 14 to file a bankruptcy reorganization plan.
“Garrett Kelleher is very committed to the Chicago Spire,” Murphy said. “We're coming out of the perfect storm, and Garrett thinks this is the perfect product.”
The 2,000-foot high Chicago Spire condominium project to be built at Lake Shore Drive and the Chicago River would have been the tallest building in the Western Hemisphere, rising above even 1 World Trade Center in New York City which won that title yesterday. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
