Shelbourne Hands Related Control Of Chicago Spire Site

Law360, New York (November 4, 2014, 4:17 PM EST) -- The Related Cos. LP has taken over the site of the stalled Chicago Spire project, after bankrupt real estate developer Shelbourne North Water Street LP handed over the deed rather than continuing what had been a lengthy court battle.

It was a relatively low-key conclusion to a long-running fight over what had been slated to be the tallest building in the Western Hemisphere, at 150 stories, but that never got past the digging of the foundation.

The pieces started to fall into place Monday evening, when Related withdrew, with prejudice, a motion urging U.S. Bankruptcy Judge Janet S. Baer to force...

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