September 28, 2007 - They say imitation is the highest form of flattery, so the Chicago Spire should be duly complimented by a newly proposed hotel and condo tower that if built could pass for family. It was probably only a matter of time before other developers decided to rework the Spire idea and scale their versions to suite their market niche, which should make for some interesting projects in the future.

This particular building in the works is a product of developer Christopher Carley of the Fordham Company and also developer Michael Reschke. Interestingly, Carley once owned the land on which the Spire is now in progress. This proposed Streeterville building would be a one hundred story tower with roughly half hotel and half condo units, not unlike the Spire. It would also sit just two or so blocks from the Spire and have a tapered top that rises to a knife edge of sorts, similar to the Spire’s look.

The Waldorf-Astoria group has already verbally signed on to manage the hotel portion of the tower. The units would be more affordable than those of the Spire, with pricing starting at close to $800.00 per square foot. That’s certainly not cheap, just less than some of the other luxury condos in the neighborhood.

The proposed Waldorf-Astoria tower has a long way to go yet before it makes it from paper to pilings. If everything gets approved and sales are good, construction could start in 2009 and wrap up three years later. It will be interesting to track the progress of this potential Chicago Condo in Streeterville.

Technorati Tags: Waldorf-Astoria, Chicago Illinois, Chicago Condos for Sale

This entry was posted on Saturday, September 29th, 2007 at 12:00 am and is filed under Luxury Condos(t) , News(t) . You can leave a response.