We've posted about this so many times it's almost comical (
here,
here,
here). But here we go again...
via Chicagorealestatedaily.com:
A bankruptcy judge once again has deferred a decision on a disputed hotel development site next to McCormick Place, giving the property's owner until next Wednesday to come up with a feasible plan to pay off its creditors.
Judge Jack Schmetterer on Thursday told lawyers representing developers Pam Gleichman and Karl Norberg that they need to provide more solid evidence that a planned sale of the property just north of the convention hall will happen, allowing the husband-and-wife team to pay off lender CenterPoint Properties Trust, which has been trying to foreclose on the site for nearly four years.
Under a proposed bankruptcy reorganization plan, a venture led by the couple would sell the property in two transactions to developers that would build two hotels there. The site has also been mentioned as a possible location for a new arena for the DePaul University basketball team.
4 comments:
I know this may not seem as important to everyone since they don't live in the immediate area, but most people including heavy hitting investors are ready to develop the area which will eventually help the entire neighborhood as it will eventually lead to the squeeze out between Cermak and 18th as well as McCormick to Chinatown (eventually leading to a safe/positive vibe connection between South Loop, Motor Row and McCormick).
Actually anonymous January 11, 2013 8:27 AM I do live in the area.
We need this development. HOPEFULLY this will also spur development further south. Its great to be in company much like LP/LV or streeterville/GC.
On another note:
This subject is a bore open up the thread about the woman attacked in dearborn park. I'm wondering who is the owner of this blog. This is so like a liberal shut down the discussion because you don't agree the comments or someone is offended by someone who have a different pov.
tayiah i think its time you stopped blogging here. Your opinion is not respected.
The thread was shut down because people wanted to turn a violent crime into a platform to debate what constitues as rape. Neither the time nor the place.....
get lost
@
anon January 11, 2013 at 4:26 PM
I really don't care how you feel, I have just as much right to an opinion here as you likewise for others who have a different opinion than u. You really do epitomise everything what I've been talking about.
Post a Comment