Tag Archives: spire

Bank of America Accused of Overcharging on Interest

Written by: - November 12, 2009

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12 November 2009 ? Bank of America seems to have its hands on many troubled Chicago real estate developments, including Block 37 and the Chicago Spire. Most recently, the developer of the Spire, Shelbourne Development Group, has accused the bank of using a faulty method for calculating interest on their loans. It is fairly standard […]

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Chicago Spire Faces More Trouble

Written by: - October 15, 2009

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15 October 2009 ? Chicago’s much challenged lakefront Spire project is facing yet another hurdle. The owner of NBC tower, where Shelbourne Development Group occupies the entire 18th floor in a $10 million sales center, is threatening eviction. The developer hasn’t paid rent since April 1 and owes more than $300,000. The 2000-foot skyscraper project […]

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