May 29, 2008 - Progress on the Trump Tower has been impressive, with the floor count reaching past 75 now. With the high-rise climbing to a final height of 92 stories when complete, it will hold the title of second tallest in Chicago. And with only foundation work ongoing at the Chicago Spire, Trump should be able to retain that title for some time.

Sales manager Leah Harriet said in the Chicago Journal this week that concrete crews were managing to get two floors of the tower poured about every seven days. She also said that crews were doing “staggered construction,” so work on several floors at once was occurring. According to Harriet, the hotel condos and residential Chicago condos in the high-rise are still about 75 percent sold at the moment. While occupancy on the hotel units began earlier this year, the residential condos will start delivering this summer. She estimates that all of the building’s units will be ready for occupancy by mid 2009 and all aspects of this Chicago real estate project should be wrapped up by the end of ‘09.

The building units boast all of the expected luxury that goes with the Trump name. Access to the hotel services, Rebar lounge, 16 restaurant, spa and health club is available to all residents and guests. But the project still has its detractors who argue that for those who can’t afford to live in one of the condos or stay in the hotel portion, the development has only served to raise property taxes in the neighborhood. The price range for the condos starts in the upper $500,000 range and the hotel units run from $850,000 up, putting them out of reach for many would-be buyers. But a project of this size will almost always generate controversy, and Chicago Neighborhoods need to weigh the economic benefits versus the overall impact of the development in the long run.

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