Crains Chicago Business reports that after developer Garrett Kelleher failed to make a $22 million dollar payment on the property where the Santiago Calatrava Chicago Spire was to be built, it was taken over by Related Midwest LLC. This effectively kills any dream of building the spiraling tower.
The building site's new owner does pledge to create "an architecturally significant and thoughtful development befitting this premier location," so perhaps there's hope for something architecturally worthwhile yet. Read more here and here.
Image via Crains Chicago Business