McCormick Place Hotel Project Stalls Over Land Ownership
by Michael C. LoweFebruary 27, 2013
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While the Metropolitan Pier and Exposition Authority has announced the development of a 1,200-room headquarters hotel adjacent to McCormick Place in Chicago, the owner of the land, JRM Technology, has already invested thousands of man-hours and millions of dollars to develop a $400 million data center there, according to the Chicago Tribune. The two organizations currently are in discussions; another location might be chosen for the data center, or the city might opt to use eminent domain to claim the land. The hotel, which would be near the intersection of Michigan Avenue and Cermak Road, would include a 400-seat restaurant and two ballrooms. The $400 million property is expected to collaborate with the existing Hyatt Regency Hotel at McCormick Place to host large group events; the Hyatt is renovating its 800-room tower and constructing an additional 460-room tower.