|Image from Crain's Chicago|
A massive hotel development (among other things) near McCormick Place has just reared it's ugly head again according to the Chicago Tribune and Crain's (behind paywall). This has been covered by us in the past and it continues to drag on...sigh:
The prospect of private hotel development north of McCormick Place, delayed for several years, resurfaced Friday in federal bankruptcy court.
Olde Prairie Block Owner LLC, led by developers Pam Gleichman, Karl Norberg and Gunnar Falk, indicated it has struck deals with three buyers for a 3.67-acre parcel at 330 E. Cermak Rd. The buyers have plans for a convention hotel, a smaller boutique hotel and a data center, the filings indicate.
We're not sure what to make of this, but if it could ever get going it would probably help the area quite a bit.
We will see what the judge thinks...
Anyone have thoughts on this. We don't claim to be real estate legal experts so would be curious to hear some thoughts on the subject.
(Hat tip: TB!)