Quote:
Originally Posted by rlw777
Why are they doing anything to this gorgeous building?
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Because Amtrak loses $1 billion per year. Property owners in need of money sometimes lease their excess property (or air rights).
Why apartments? Undoubtedly to spread the financial risk. There's been little new hotel lending in the last couple of years. Though—by European standards—Union Station would seem like a killer location for a hotel, it's too far from Michigan Avenue and McCormick Place, the traffic generators that really get Chicago hotels through the long winters.
From the way it was discussed last night, I got the impression that the wall system would be bronze-colored, and would match the restored windows in the older portion. I imagined something like 401 N. Michigan, but that was never said explicitly. TUP, where are you thinking there will be any stone?