- Two aldermen are floating the idea of putting a casino and entertainment complex where Chicago had hoped to build an Olympic Village for the 2016 Games.
[...] In the week since the city lost its Olympic bid to Rio de Janeiro, Daley has said he is confident the 37-acre parcel site of the abandoned Michael Reese Hospital would be attractive to developers. The city recently bought the Near South Side site for $91 million but it hopes to resell it to private developers before the first mortgage payment is due in five years.
The casino pitch from City Council members seems likely to be only the first of many proposals.
First up, the contention that no taxpayer money was spent on the "NOlympics" falls apart with the admission that $91 million was spent by the City on the property.
Second, expect a whole boatload of proposals for casinos to be floated around shortly. Shortshanks is desperate for cash to fill a growing hole in his budgets. We still expect the final site to be closer to downtown than the Reese property though.
Second, expect a whole boatload of proposals for casinos to be floated around shortly. Shortshanks is desperate for cash to fill a growing hole in his budgets. We still expect the final site to be closer to downtown than the Reese property though.
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