Spire misses tax deadline -- but they aren't the first to do so, either
Tom Corfman has a story at Crain's this morning stating:
The reason? According to a spokesperson, an error in the address for the bills.
I personally think Corfman is the best real estate writer in Chicago out there, but, putting my lawyer cap on, I can tell you this happens to the best of developers. It often occurs in the early phases of a development because a tax bill does not get to the right person or the right address because records have not been updated or whatever.
But that also does not mean I think this should be a free pass for the Spire, especially these days when you can get and check these records online. The fact of the matter is, when you have a project that is this high profile, you'd better dot the i's and cross the t's because if you don't, people will be watching. And we are watching.
Garrett Kelleher failed to pay nearly $430,000 in property taxes due nearly two months ago on the proposed site of the Spire, even as the Irish developer was launching a lavish, five-city Asian tour to trumpet the massive skyscraper.Corfman goes on:
The 2,000-foot-tall Spire project would challenge even the most seasoned developers. And the failure to manage a routine task like property taxes raises questions about Mr. Kelleher’s ability to complete a multi-billion dollar project that demands the highest level of concentration.
The reason? According to a spokesperson, an error in the address for the bills.
I personally think Corfman is the best real estate writer in Chicago out there, but, putting my lawyer cap on, I can tell you this happens to the best of developers. It often occurs in the early phases of a development because a tax bill does not get to the right person or the right address because records have not been updated or whatever.
But that also does not mean I think this should be a free pass for the Spire, especially these days when you can get and check these records online. The fact of the matter is, when you have a project that is this high profile, you'd better dot the i's and cross the t's because if you don't, people will be watching. And we are watching.
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