Quote:
Originally Posted by Zapatan
what's the point of proposing something like this if there's no intention of it happening?
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Some gambles have short odds; some are long shots. Some developers (Bob Wislow) are pretty cautious and risk-averse; some developers will take the long odds in hopes of a bigger payout.
My guess is that Forest City/Central Station has been sitting on these air rights, Jerry Fogelson (who's 88) didn't feel he had the energy to gin them up into something, and went looking for a new partner. Landmark/Dunn thought "we've done projects with NFL teams, this is next to Soldier Field, we've done projects with public bonding before, the money we have to put up is very little, there's a couple of investment groups who'll take my calls, and if the chips fall right there could be a big payoff."