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| The Chicago Spire achieves 30 per cent sales UK property services firm Savills announces that 30 per cent of the apartments at The Chicago Spire have been sold. To date, 352 units have been sold in the 2,000ft, Santiago Calatrava-designed structure which, when complete, will be the tallest residential building in the world. The strong sales figures reflect the potential of the Chicago residential real estate market to continue to outperform other US cities. The most recent report from the National Association of Realtors indicates the median price of a Chicago condominium increased 10.8 percent from Q1 2007 to Q1 2008. In addition, according to first quarter figures from the Federal Housing Board, Chicago continues to oppose national housing trends. During the first four months of this year, the average home price in Chicago experienced a 16.4 percent gain compared to the same period one year ago. The Chicago Spire will be home to 1,194 individual residences and a range of amenities that will rival any in the world when complete by early 2012. No two residences are alike at The Chicago Spire. Situated on a 2.2 acre site where the Chicago River meets Lake Michigan, The Chicago Spire will be the world's tallest residential building. Construction of The Chicago Spire began in June 2007. The building's foundation is now more than 90pc complete. Completion and occupancy are expected in 2012. write your comments about the article :: © 2008 Construction News :: home page |