Crain's
May 15, 2006
High-end hotel eyed for Lakeshore East
Strategic Hotels & Resorts wants to build a 200-room hotel in the
Lakeshore East development, south of the Chicago River and east of
Columbus Drive, says CEO Laurence Geller. He says the Chicago-based REIT,
which owns the Fairmont and InterContinental, aims to flag the hotel
with "one of the very high luxury brands of the world," and is talking
to Magellan Development Group, developer of Lakeshore East. Magellan
Co-CEO Joel Carlins says the project would include condos; he also is
entertaining offers from other hotel developers. [Alby Gallun]
Feds aiming to nix carpenters union vote
The Labor Department is suing the Chicago Regional Council of
Carpenters, seeking to nullify last year's election of officers and
force a new vote at one of the area's largest unions and all 42 of its
locals. Responding to several member complaints, the department alleges
that election results "may have" been affected by the lack of a secret
ballot and the "unreasonable" requirement that candidates had to serve
as delegates for three successive years before they could run. Labor
Department and union spokesmen decline comment. [Paul Merrion]
Another fish place to angle for diners
Oceanaire Seafood Room plans to open its first Chicago location at 351
N. Clark St., an office tower under development by Mesirow Financial and
others, says Chicago real estate firm Baum Realty. The Minneapolis-based
seafood chain, with restaurants designed to resemble a 1930s ocean
liner, operates eight locations nationwide and is in the midst of an
expansion. [Sandra Jones]
New tax stream pitched for museums
Major cultural institutions have a $1.1-billion impact on the local
economy, but they need more public help in the form of a quarter-cent
sales tax in Cook County, according to a report being issued Monday by
the Civic Federation. The tax policy group says the estimated $120
million a year in proceeds from such a levy would provide a stable
source of money for organizations such as the Art Institute, Botanic
Garden and Brookfield Zoo, while also allowing new groups to get money.
Any sales tax hike should be tied to a minimum 50% cut in the portion of
the property levy now imposed by the county and Chicago Park District
that goes to cultural institutions, the report says. [Greg Hinz]
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