The Real Deal Miami

National market report

June 24, 2009 01:42PM

From the June New York issue: Chicago wants to tear down most of Michael Reese Hospital, a South Side
medical facility, to build an Olympic village for the 2016 Summer
Games. But state preservation officials say the hospital, whose main
building was built in 1907, may be historically significant, the
Chicago Tribune reported. The Illinois Historic Preservation Agency is
legally required to assess the property before any project at the site
is allowed to proceed, but the city has already agreed to buy the
hospital campus for $86 million and sell it to developers for the $1
billion Olympic village. Compiled by Sara Polsky