Got $40M for a condo in The Chicago Spire?

Architect Santiago Calatrava describes his creation, The Chicago Spire

We’ve just returned from the brand new sales center for The Chicago Spire, where architect Santiago Calatrava and developer Garrett Kelleher showed a group of journalists and photographers around two model homes and several exhibit spaces devoted to Calatrava’s oeuvre.

Questions inevitably surfaced about prices for the nearly 1,200 condos in the twisting tower, to be the nation’s tallest. Studios (which the sales team for the Spire is calling “suites”) start at $750,000. Prices for the swankiest penthouses go up to…prepare yourselves…$40 million, according to Dominic Grace, of London-based Savills PLC, which is handling international sales.

Grace was quick to emphasize that not all prices will be in the multi-million dollar range. “There is a lot of product under $2 million,” he said. “We will have a lot of product that is sub-$1,000 a square foot.”

How much is “a lot?” Kelleher told us that “up to 200” units will be priced at $1,000 or less per square foot.

More detailed pricing information and floor plans will be available when the sales center opens to the public in January, according to Grace and Michael Golden, of @properties, who is leading local sales.

The nearly 20,000-square-foot sales center is on the 18th floor of NBC Tower, at 455 N Cityfront Plaza Dr, overlooking the Spire construction site. It was originally set to open to the public today, but a spokeswoman for Shelbourne Development Ltd, Kelleher’s firm, announced several weeks ago that marketing would be postponed due to a delay in regulatory filings required by the federal government.

We’ll have more dispatches from our trip to the Spire – stay tuned.

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