Marriott Marquis Coming to Cermak

Another step in the plan to revamp the Motor Row area (via Chicago Tribune):

The planned 1,200-room convention hotel to be built just west of McCormick Place will be operated by Marriott International Inc., convention officials decided Friday morning. 

The hotel, expected to open in late 2016 next to the West Building, will be a Marriott Marquis, the company's premium convention center brand. 

Financial details of the 10-year contract, approved by the board of the Metropolitan Pier and Exposition Authority, were not disclosed. Officials of the authority, a state-city agency, said the contract would not be made public until it was finalized and signed.

Also interesting is that Lakeside Bank (currently at the northeast corner of Indiana and Cermak) might be moving to 14th and Michigan as part of a swap:

The board also authorized the pursuit of a property at 14th and Michigan that could be turned over to Lakeside Bank in exchange for its current branch site at Cermak Road and Indiana Avenue, which is needed for the arena project.