Tuesday, October 23, 2012

Additional Hotel Plans Surface for Development Near McCormick Place

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!)


Joe Zekas said...

Relax. Kick back and wait for this development to go the way of every other proposal from this group.

Anonymous said...

McHugh proposed a data center at this site several years ago and apparently had a large client already lined up but nothing ever came of it. Some residents objected that the noise coming from the center's cooling towers would be too much.

Brianbobcat said...

The data center was going to be at Indiana and Cermak, yes, but the south west corner, not north east. I certainly would like to see this as that would help literally everything. What I don't like is their plan for the house at 2110 S. Prarie. I think in order for that house to be properly preserved, it should be moved and then the developer doesn't need to worry about building over the air rights of that house and totally destroying almost it's whole character.

Anonymous said...

There are 2 Data Center's planned. One by McHugh at Indiana/Cermak which everyone in the neighborhood is against and this one that I believe would be around 21st and Prairie/Calumet.