Quantcast developer losing control of Spire

The onetime developer of the Chicago Spire continues to lose control of his lakefront property bit by bit. Garrett Kelleher still technically owns the spire site at 400 N. Lake Shore Drive, but the property is in foreclosure and last week a Cook County judge appointed a receiver to take control of it. Circuit Court Judge Robert Quinn approved the appointment of Stephen Bell of CB Richard Ellis Group Inc. as the receiver. It’s the second high-profile receivership for the firm; CB also took over management of the Block 37 retail site on State Street as a result of foreclosure.