Bank sues developer of Chicago's Spire tower

08/14/2009 | Bloomberg

Bank of America has filed a lawsuit against Chicago Spire tower developer Shelbourne Development Group. The lawsuit claims that Shelbourne Development defaulted on a loan, and the bank is seeking $4.9 million in principal, interest, expenses and fees. Shelbourne last year stopped construction on the tower, which it originally said would be the tallest building in North America.

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