Foreclosure lawsuits mounting atop the $2-billion Chicago Spire project come at a time when the Windy City’s glut of condominium inventory has forced developers to make other deals. Rendering: Courtesy of Shelbourne Development Chicago Spire’s foreclosure lawsuits heat up as condo market remains frozen. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" In the near term, “I think any high-rise residential developments will be rentals,” says Gail Lissner, vice president of Appraisal Research Counselors, Chicago. A dozen rental high-rises are planned downtown, she says, including a 49-story tower that is being floated by luxury apartment developer AMLI Residential, Chicago. As for condos,
Despite a faltering international market, 2015 and the beginning of 2016 are proving to be strong years for U.S. contractors, with steady domestic growth and only moderate strain from workforce shortages.