The Chicago Spire Officially Launched

The Chicago Spire Officially Launched

September 27, 2007

Global Sales Campaign to Launch in Chicago in January
Followed by a 14-City World Tour


    CHICAGO, Sept. 27 /Xinhua-PRNewswire/ -- The Chicago
Spire was officially launched last night at an event held
in Chicago's Millennium Park. An invited audience of nearly
500 people heard presentations by Santiago Calatrava, the
architect of the 2,000-foot iconic residential building on
the shores of Lake Michigan, and Garrett Kelleher,
executive chairman of Shelbourne Development Group, Inc. 

    The event also marked the unveiling of The Chicago
Spire Sales Center located on the 18th floor of NBC Tower,
overlooking the site. At 19,815 square feet, the Sales
Center includes full-scale re-creations of apartment
interiors and original artworks by Calatrava. Appointments
are now being taken for the sales centre opening on January
14, 2008. The global sales drive begins the same month with
an exhibition road show to 14 key cities in south and
southeast Asia, Europe and South Africa.

    "The Chicago Spire is a remarkable building on an
exceptional site," said Garrett Kelleher. "We've
brought together a world class team to create what will not
only become an amazingly beautiful home for its residents
but a building that will be a dynamic new symbol for the
city of Chicago." 

    When complete in 2011, the building will be home to
1,193 individual residences and a range of amenities that
will rival any in the world, including private theaters, a
therapeutic spa, spectacular pool overlooking Lake Michigan
and a highly-advanced gym. No two residences are alike at
The Chicago Spire, with suites, galleries, one-four bedroom
homes and penthouses offering unique floor plans and
different views of the city and lakefront from
floor-to-ceiling windows. Ranging from 534 - 10,293 square
feet, units are priced from $750,000 USD - $40,000,000
USD.

    Santiago Calatrava has conceived the design as an
aesthetic whole, overseeing the development of all
apartment floorplans and creating new designs and artwork
for the interiors.  

    "I am extremely happy to have been given this
opportunity to add something unique to Chicago's
architectural heritage and to what I believe is one of the
most beautiful skylines in the world," said Santiago
Calatrava.  "Thanks to the vision and support of
Garrett Kelleher, we are also making the river and
lakefront more accessible and enjoyable."

    A tower of this significance could only be built in
Chicago, according to the marketing and sales team. 

    "Chicago has a dynamic economy with major inward
investment and business expansion," said Dominic
Grace, Head of Savills Residential Development and leader
of the global sales and marketing campaign. "It is a
culturally and economically diverse city with a superb
infrastructure and an incredibly vibrant lifestyle. This is
a significant development not only for the city but for the
world."

    Situated on a 2.2 acre site where the Chicago River
meets Lake Michigan, The Chicago Spire will be the world's
tallest residential building and build on the city's
significant architectural legacy.  The site plan, designed
by Santiago Calatrava, incorporates DuSable Park and will
create a new lakefront destination for the people of
Chicago to enjoy.  

    Each floor rotates on average 2.44 degrees from the one
below, with a total rotation of 360 degrees as it reaches
its 2,000-foot height. Among its many engineering
achievements, The Chicago Spire has a base-to-height ratio
approaching one to ten, making it the most slender
supertall building in the world. It will also shatter the
record for the longest continual elevator lift by 500
feet.
  
    Construction of The Chicago Spire began in June 2007. 
The 34 caissons are currently being drilled 110 feet into
bedrock, and ramp access from lower Lake Shore Drive will
begin Q4 2007.  Completion and occupancy is expected Q4
2011.

    For more information, see
http://www.thechicagospire.com, or contact the Sales Center
at 312.516.4800 to make an appointment.  

    About Shelbourne Development 

    Shelbourne Development, headquartered in Dublin, is one
of Ireland's leading property development companies, widely
regarded as one of the country's most professional and
progressive developers.  In the past three years,
Shelbourne's experienced team, known for its track record
in evaluating and capitalizing on cycles in property
markets, has completed in excess of 1.5 million square feet
of construction in Ireland.  It currently has a development
pipeline in Dublin in excess of $2 billion US.  Shelbourne
is currently pursuing developments and projects in Ireland,
UK, France and Chicago. Garrett Kelleher, executive chairman
of Shelbourne Development Ltd & the Shelbourne
Development Group, Inc. holds significant investment
properties in Europe.


    For more information, please contact:

     Kim Metcalfe
     Weber Shandwick
     Tel:   [phone]
     Cell:  [phone]
     Email: [e-mail]