An Irish entrepreneur has been given the go-ahead to build the world's tallest residential building.
A computer generated image of the Chicago Spire
After being recommended for approval by the Chicago Planning Commission today, Garrett Kelleher's Shelbourne Development will build a 2,000-foot skyscraper in Chicago on Lake Michigan's shoreline.
Situated on a 2.2 acre site at 400 North Lake Shore Drive, the Chicago Spire, designed by architect Santiago Calatrava, is expected to become one of the world's most exclusive addresses.
Stretching over 150 storeys, the Chicago Spire will carry 1,200 apartments and will be almost twice the height of the Chrysler building in New York.
It will also dwarf Sears Tower which is also in Chicago (1,450 ft), the Canadian National Tower in Toronto (1,815 ft) and Malaysia's Petronas Towers in Kuala Lumpur (1,483 ft).
Chicago city council will be asked to officially approve the development early next month, to rubber-stamp today's decision by the Chicago city planning office.
The building, made mainly from concrete, will recycle rainwater, use river water for cooling, and will have special glass to protect migratory birds. It will be surrounded by a landscaped, public plaza.
Mr Calatrava said that he set out to design "an innovative and soaring tower that would transform a naturally beautiful site into a truly special destination".
Despite initial adversity to the scheme, Mr Kelleher's plans for Chicago's skyline have been well-received among residents in the area.
He has not revealed the project costs, but they are said to be in excess of $2 billion (€1.5 billion). After two redesigns, construction of the Chicago Spire, will begin next month and is expected to be completed in 2010.
After starting out with a painting business in Chicago 20 years ago, Mr Kelleher has built a multi-million euro construction and property business.