Oct 8, 2009 6:09 pm US/Central
Alderman Suggests Casino For Nixed Olympic Site
Mell Says He Doubts Developers Will Build Housing There Anytime Soon
CHICAGO (CBS) ―
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Michael Reese Hospital (File)
Illinois Landmarks Commission
A Chicago alderman has suggested putting a casino and theater complex at the site where Chicago would have built an Olympic Village had the city been picked to host the 2016 Summer Olympics.
Ald. Richard Mell (33rd) told CBS 2 Political Editor Mike Flannery that a casino that close to McCormick Place would help attract more business to the convention center. He said he has been told revenue at McCormick Place is down about $60 million this year.
"We're losing shows (conventions) to Las Vegas," Mell said.
Mayor Richard M. Daley has said the proposed site of the Olympic Village would have been transformed into a mixed-income housing development after the games.
City officials have not yet announced any immediate plans for the land at the Near South Side site of the abandoned Michael Reese Hospital. But in the days since the city lost its bid for the 2016 Olympics, the mayor has said he's confident the site would eventually be developed.
For his part, Mell said he doesn't believe developers would rush to the Near South Side anytime soon to build new housing, so a casino might be the best use for the property.
He said the site also could feature a large theater and a large sports bar with dozens of TVs for watching games.
Mell also pointed out that many Chicago residents already drive to casinos in the suburbs and northwest Indiana and a casino in Chicago would keep that revenue in the city. "82 percent of the cars at the casino in Hammond, Indiana are from Chicago," Mell said. "The genie's out of the bottle (on gambling)."
The local alderman, Toni Preckwinkle (4th) said that she was
not necessarily opposed to a casino at the site, but she wasn't
thrilled about the idea. "We'll explore all the options," Preckwinkle
said.
Preckwinkle said it would make sense to build an entertainment complex near McCormick Place, including permanent exhibition space open to the public, restaurants and a theater.
The city has already agreed to pay $86 million to redevelop the site; when the city lost out on 2016, it was put on the hook for an additional $5 million for the Reese site. The city must also pay $20 million for environmental cleanup at the site and tear down 20 structures before any development may take place.
CBS 2 Political Editor Mike Flannery contributed to this report.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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