Spire Penthouse Sold to Beanie Baby Tycoon

Monday, Jan 26, 2009  |  Updated 3:53 PM CDT
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Out of a hole in the ground will rise a skyscraper reaching 2,000 feet with 150 floors, and Beanie Baby Tycoon Ty Warner wants to be at the top of it.

The Chicago Tribune reported Tuesday that Warner signed a contract to buy the 10,000-plus-square-foot, two-story penthouse at the Chicago Spire, which originally carried a $40 million asking price. The sales price was not disclosed.

From its perch near the city's lakefront, the penthouse will offer 360-degree views from floors 141 and 142.

With the Spire's future uncertain because of the current financial and credit crisis, the purchase is a dose of good news for the proposed structure, which will become the second-tallest residential building in the world.

The developer, Irish company Shelbourne Development Group, said it has sold 30 percent of the 1,194 units. The building is slated for completion in early 2012.

The Spire is designed by architecht Santiago Calatrava, whose work can also be seen in Milwaukee, with the Quadracci Pavilion addition to the Milwaukee Art Museum.

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