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Chicago Spire Receives Final City Approval

CHICAGO-Shelbourne Development Group Inc. is set to begin construction on the 2,000-foot-tall residential tower, with a cost expected to top $1.2 billion.

By Gina Kenny | Updated on May 10, 2007

(Read more on the multifamily market.)

CHICAGO-Construction will begin by the end of this month on a 2,000-ft residential tower now that it has received the final approval needed by the city. On Wednesday, the Chicago City Council unanimously voted for the final approval for the Chicago Spire, 400 N. Lake Shore Dr. The project, being developed by Dublin, Ireland-based Shelbourne Development Group Inc., had previously received unanimous approval from the city’s planning and zoning commissions, says Tom Murphy, of Thomas J. Murphy PC, general counselor and spokesman for Shelbourne.

The 150-story building will have 1,200 units and penthouse residences as high as 2,000 feet, making the building the largest residential building in North America and Europe. The project is expected to have the highest occupied floor in the world.

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