Thursday, April 17, 2008

News Notes from All Over

Anima of Shangri-La exposed as hoax - or is it? Wednesday's Chicago Tribune carries a story on Teng & Associates, after a two year search, lining up a $300 million loan to complete their $480 million Waterview Tower on Wacker at Clark. Earlier in the week, rival Sun-Times columnist David Roeder had reported (see post just below) that the project had been unable to obtain financing,and that construction was in danger of being halted and the building turned into a parking garage. The loan came courtesy of the Beijing Construction Engineering Group Company, which is not a financial firm but acted as a middleman for funds provided by the Export Import Bank of China. Who has the better handle on the Chicago real estate market - the pessimistic American lenders, or the Chinese? Place your bets now.

Many of you will no doubt think this refutes my previous post on this topic. But does it? On Monday, I write about Waterview and its Shangri-La hotel being the victim of a possible curse from the anima of the demolished Shangri-La restaurant and soft-porn house. On Wednesday, save-the-day financing is announced to take Waterview to completion. And where does this salvation come from? That's right. A Chinese company. Is it possible that the anima, after reading (or perhaps having it read to them; the cognitive abilities of anima remain somewhat unclear) Monday's post looked again at the project that had usurped its name and, moved by that project's fragility and struggle to be born, reversed the direction of its spiritual energy?

Grant Park mulch and clean for Earth Day this weekend. The Grant Park Conservancy, Grant Park Advisory Council and volunteers from Exelon and JPMorgan Chase are teaming up again this year to care for the trees in Grant Park, Saturday and Sunday from 9 A.M. to noon. Get the info here.

Group fights Lincoln Park privatization - Crain's reports that a group called Protect Our Parks has filed a lawsuit in Chicago Circuit Court to stop construction of a soccer field that the Latin School, in exchange for financing, will convert to extensive private use for up to the next 20 years.

The Chicago Children's Museum has filed for a liquor license for their proposed location in Grant Park.

4 comments:

Terry Murray said...

A liquor license for the Children's Museum... I'd say "What will they think of next?" but that would be tempting fate.

Esther said...

Booze for babes! I love it. No building permit but they're going for the gusto. Which takes longer to get in this city: a building permit or a liquor license? That's a tough one...

Anonymous said...

Lynn, though you are busy reporting on the Children's Museum fiasco, please devote more attention to the private school land grab in Lincoln Park.

That is a sickening obliteration of green space.

Anonymous said...

Yes, keep up the great work about the Grant Park and Lincoln Park land grabs.

What's next? U of C Lab school taking over the Midway Plaisance? I wouldn't be the least bit surprised.