Chicago ‘Spire’ Looks for Buyers Abroad

Everyone is looking for buyers. It doesn’t matter if you have a small house in the suburbs or a high rise in Chicago.Read this interesting story from Robert Manor
with the Chicago Tribune about looking for buyers internationally.
Developers of a 2,000-foot-tall residential condominium project in Chicago called the Spire have taken their show on the road to attract international buyers.

Salespeople are wooing potential buyers from Dublin and Singapore to Moscow and Seoul, people involved with the Chicago Spire say.

Some observers of the sagging U.S. housing market have suggested that Garrett Kelleher and his Ireland-based Shelbourne Development Group Inc. made a poor decision when they launched this pricey project, predicting disaster for a building where studio units are priced at $750,000 or more.

Kim Metcalfe, spokeswoman for the Spire, declined to say how many units have committed buyers or where Kelleher is getting financing. Marketing of the Chicago Spire is shared by Chicago-based @Properties and United Kingdom-based Savills, a real estate sales and service company with offices around the world.

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