The 124-story glass-and-steel, spiraling building would rise on 2.2 acres at Lake Shore Drive and East North Water Street, as well as near the confluence of Lake Michigan and the Chicago River. The city is building DuSable Park on the lakefront, across the street from the proposed Fordham Spire.

The 150 hotel rooms would be on the lower 25 floors while 300 condominiums would be on the upper floors. Each floor would be rotated slightly, producing a spiral effect. The proposed 1,570-foot building will be topped with a 400-foot set of broadcast antennas. Despite being the tallest building in the world, Fordham Spire's 950,500 sf is in line with density limits under current zoning for the site.

However, Fordham Spire will set the high-water mark for local condominium prices. "We're looking to average $1,100 to $1,200 per sf, but that's over the next four years," Fordham Co. chairman Christopher Carley says. That would equate to $6 million for 5,000-sf penthouse units on the upper floors. Panoramic views will help drive the price, Carley believes. "The interiors are going to be so spectacular," he adds.