The Chicago Spire is One Big Ol’ Water-Logged Bucket Of Foreclosure

Development Eavesdroplet Midwest
The Chicago Spire today only exists as a hole in the ground. (Marcin Wichary / Flickr)

The Chicago Spire today only exists as a hole in the ground. (Marcin Wichary / Flickr)

Social media was abuzz recently over the reports by eavesdrop, the WSJ, and other major papers about the biggest recession scab over Chicago: the failed Spire designed by Santiago Calatrava. That Irish pie in the sky developer apparently found someone to bail the project out of its foreclosure. Everyone was all, “It’s back on!” Dear readers, until they start pumping the water out of the big hole in the ground, Eavesdrop is betting against this one.

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