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Time, as they say, will tell. But it’s worth noting that it’s been almost a year since the City of Chicago approved the 100+-story project. And time, as they also say, is money.
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Regarding this excerpt, I'm not sure why the author of this article expects it to start right after approval. That was never the plan, they're waiting for the renovation to be done, and also waiting for financing + good market timing.
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The next milestone for this one is going to be financing.
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That'll be a big one, fingers crossed