CHICAGO-Plans announced on Tuesday to build a $400-million hotel project at McCormick Place are far from concrete.
Illinois Gov. Pat Quinn and Chicago Mayor Rahm Emanuel announced their intent yesterday to build a 1,200-room high-rise hotel that would be within walking distance of the city's convention center so that the city can compete with other popular convention destinations. However, the owner of the property—James McHugh Construction—tells the Chicago Sun-Times that sales talks on the property are “preliminary.” City officials say that the Metropolitan Pier and Exposition Authority (McPier), the owner of McCormick Place, is in sales discussions with the construction firm.
The hotel would be approximately 35 stories high and contain 1,200 rooms. It would be built on the south side of Cermak between Michigan and Indiana and would be across from the McCormick Place West Building and have a skybridge connection to it, according to McPier.
James McHugh, chairman of the construction firm, says that his company has considered sales discussions thus far “to be very preliminary and no agreement has been reached. It is our hope that the issue can be resolved in a way that improves the ongoing redevelopment of the South Loop.” See story in the Chicago Sun-Times.
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