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Shelbourne Sees Interest in US' Tallest Condo

CHICAGO-The have been 352 residential units sold in the $1.2-billion, 2,000-foot tall Chicago Spire, being developed by Shelbourne Development Group Inc.

By Gina Kenny | Updated on June 10, 2008

CHICAGO-While the Downtown condo market may be in a slump, sales of residential units in the 2,000-foot-tall Chicago Spire have remained steady. Dublin-based Shelbourne Development Group Inc., which is developing the tower, has sold 352 units, approximately 30% of the building’s 1,194 units, says Kim Metcalfe, SVP for the company. The 150-story building at 400 N. Lake Shore Dr. is on a 2.2-acre site where the Chicago River meets Lake Michigan.

Approximately half of the units have been sold to people from the Chicago area, with the other half being sold to people in New York and overseas, such as Dublin, Singapore, Hong Kong, Beijing, Shanghai and Johannesburg. The units range in size from 534 sf to slightly more than 10,000 sf, Metcalfe tells GlobeSt.com. Sales prices range from $750,000 to $40 million, she says.

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