Crain's Chicago Business and the Tribune are reporting that Clarinabbey Ltd, one of an interlocking group of companies controlled by Irish developer Garrett Kelleher, is declaring as a loss its $135,000,000 investment in Shelbourne North Water Street LP, the company behind the Santiago Calatrava designed Chicago Spire. "There exists a fundamental uncertainty over the company's ability to meet its obligations . . . ," Clarinabbey is reported as stating in is annual report. More from the Irish Times here.
The phrase "down the Spire hole" now officially enters the Chicago lexicon. As in: "Contemplating his third place finish in the Republican primary for governor, Andrew McKenna couldn't shake the vision, passing in front of his eyes in an unending loop, of 4,000,000 dollar bills floating lazily, yet irretrievably, down the Spire hole."
At some point in the not distant future, I hope to consolidate my writings about the extraordinary story of Spire, including a catalogue of images. For now, however, let's just turn back the clock to a happier time, from a photoessay here.
And back even further, before a spade of earth was turned, to when the Spire was still Santiago Calatrava's perfect, pure poetic vision.