Lee Plaza hotel to be redeveloped?

[Chicago48]

I'm as skeptical as any of you are... although if that $5 billion in developments by his mother turns out to be true.... WOW!!

Now if we can also steer him towards the Statler block!! That lame $35 million, 5 story "underwhelming" DEGC and Duggan promoted middling project with the giant flat screen TV out front.... that block could use a developer [[with vision) like this...

If he can actually make a go of the Lee Plaza area in a relatively bad location... imagine what he could do with a "good" location, such as the Statler!!

If you build it will they come? Hmmm.....luxury means high-rent. Will you have enough "workers" and rich folk to fill it?

[emu steve]

If you build it will they come? Hmmm.....luxury means high-rent. Will you have enough "workers" and rich folk to fill it?

Two thoughts:

1). Isn't the pricing [[rent / sq. foot) equal to highly desirable projects?

2). Isn't this project in an area with few amenities and with crime issues?