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 […]
Tag: Loews Hotels
Posted inNews & Politics
Mr. Big Spender
The Central Loop tax increment financing district—the oldest and largest TIF of them all—came in with a boom and went out with a binge.