$135M Chicago Spire Settlement Gets Judge's Nod

Law360, New York (March 27, 2014, 8:05 PM EDT) -- An Illinois bankruptcy judge on Wednesday approved a $135 million deal that allows the developer of the stalled residential Chicago Spire high-rise to exit bankruptcy, clearing the way for resolution to the project's refinancing problems and moving the project toward construction.

U.S. Bankruptcy Judge Janet S. Baer approved all aspects of the proposed settlement, which includes up to $135 million in committed capital from Illinois-based real estate developer Atlas Apartment Holdings LLC for the project, slated to be the tallest building in the Western Hemisphere.

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Case Information

Case Title

Shelbourne North Water Street L.P.


Case Number

1:13-bk-12652

Court

Delaware

Nature of Suit

Date Filed

October 9, 2013

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