Tuesday, September 15, 2009

Block 37: You can't give it away

Posted By on 09.15.09 at 01:43 PM

Loews Hotels pulls out of $1 site.

Of note: "In exchange for selling the air rights for $1, Block 37 developer Joseph Freed & Associates LLC would have received $12 million in additional tax-increment financing from the city. That money was supposed to offset cost overruns on the construction of a Chicago Transit Authority station underneath the project, but it now sits in an escrow account awaiting the next deal."

Tags: , ,


Subscribe to this thread:

Add a comment

More by Whet Moser

  • —30—

    A farewell, and some favorite pieces from the Reader.
    • Jan 14, 2011
  • The Very Political Life of Bill Daley

    Bill Daley: lifetime centrist
    • Jan 14, 2011
  • The Hidden Hands

    The Hidden Hands

    In every successful campaign—and every dud—pros are masterminding and organizing from offstage. Meet the people behind six mayoral candidates.
    • Jan 13, 2011
  • More »

Agenda Teaser

Performing Arts
The Snare Broadway Armory Park
February 23
Performing Arts
The Columnist Stage 773
February 23

Tabbed Event Search

The Bleader Archive

Popular Stories