Chicago Spire Will Be Nations's Tallest Building (Can You Spare $2.4 Billion?)

The Chicago City Council approved a zoning change that allows for the construction of the Chicago Spire, a 2,000-foot lakefront condominium tower designed by prominent Spanish architect Santiago Calatrava. The Chicago Park District approved the transfer of two parcels on the north bank of the Chicago River to the city.

The property transfer will allow Shelbourne Development, which wants to build the twisting tower, to create a riverfront plaza and six levels of underground parking next to the site. The lakefront parcel, slated to be the site of DuSable Park, will be used temporarily by the developer as a staging area for construction of the Spire.

In exchange, Shelbourne has agreed to pay $9 million for the construction of DuSable Park. The city and the Park District have each promised $3 million to complete the park, which has been in the planning stages for more than 20 years largely because of lack of funding.