An Irish developer bought the land at 400 N. Lake Shore Drive for a reported $64-$65 million dollars where Christopher Carley’s Fordham Company has been planning the Fordham Spire. Over 90 sales contracts had already been signed for the Spire, but the Fordham Co. had yet to secure financing and purchase the land.

The new owner of the land, Garrett Kelleher, executive chairman of Shelbourne Development Ltd. in Dublin, Ireland may continue with the original plans with the Fordham Company or Christopher Carley acting as local manager of the project although this has yet to be negotiated. Kelleher presently is imply referring the project as “400 N. Lake Shore Drive”. Shelbourne Development has purchased the land but not the architectural plans for the Fordham Spire.

The original plan for Fordham Spire was drawn up by famed architect Santiago Calatrava. The height of the building at 124 stories drew ridicule by some other developers including Donald Trump who is reported to have said the Fordham Spire is “not a building anyone in his right mind would build” due to the economics of building such a tall structure. “It’s going to cost a lot more to build than the condos you can sell.”

More news at
– Shelbourne Development press release
– Sun-Times
– Engineering News
– Chicago Tribune
– Commercial Property News