Thanks Again Dick
Shortshanks can be compared to a really bad venereal disease - the gift that keeps on giving:
- Chicago taxpayers have paid a wealthy North Shore family more than $24 million since June for the vacant Michael Reese Hospital property that former Mayor Richard M. Daley bought as part of his failed Olympic dream.
And Chicagoans will keep paying — possibly another $120 million in principal and interest by the year 2024 — unless Mayor Rahm Emanuel can find someone to develop the 37-acre lakefront site just south of McCormick Place. With its prime location, the property has been eyed as the possible home to everything from a new casino to President Barack Obama’s presidential library.
“The property is worth substantially less than was paid,” says Emanuel spokeswoman Elizabeth Langsdorf. “This inherited deal was a bad one for taxpayers, but Mayor Emanuel is taking steps to ensure taxpayer exposure is reduced and to bring the property back to productive use.”
Labels: money questions
posted by SCC at 12:31 AM
35 Comments:
Having that property is like money in the bank. It will never decrease in value, only increase over time.
Nothing would give me a bigger boner than to see Daley do a perp walk. What a piece of shit that guy is.
Shanks again !
Ah another remnant of Shortshanks wearing his Olympic blinders.
It was the Olympics or bust ..... guess which part the taxpayers got?
The only reason Rich Daley isn't in prison is because he's an informant for the feds. Think it's BS, just ask yourself, why does everyone around him go down, but never him?
Mr. Rahm is obviously in no hurry. It's not his money anyway.
No keeses for him.
So why not put the BHO Library there? 37 acres is more than enough land. Transportation, hotel,convention center, Bronzeville...
No brainer.
Nice going you stuttering POS!
Will the Daley debt ever stop?
They send bogus settlements through the finance committee for every Mutt that sues the City and they can find a measly 85 million or so to pay this off tomorrow.
Are there any deals that Daley made that were good ones?
That little f---er should be in jail!
who is the "North Shore family"??
$90 mil to buy a dilapidated structure another few million to demolish it, add the principle and interest, maybe $295mil sale price s needed just to break even. I forget, was this a Davis-Vanecko broker deal? Who will be the lucky recipient of the sale commission?
There are no suckers in real estate, just clueless taxpayers.
And you people voted for Rahm the best man to handle the city finances.
so who is the wealthy "North Shore family"??
Anonymous said...
The only reason Rich Daley isn't in prison is because he's an informant for the feds. Think it's BS, just ask yourself, why does everyone around him go down, but never him?
Wasn't Phat Phil right in the middle of the Summerdale Scandal...but nothing happened to him? Why's that?
Real good reporting?? Yeeesh. Basic Journalism 101 is to answer the who what where when how and why. WHO is the wealthy north shore family??
When will the feds declare RMD public enemy no. 1 ?
We knew it was a bad deal when it happened! It was one of Daley's rush rush "We must get the Olympics NOW" deals. It would only be a good deal if Chicago got the Olympics and the property was quickly developed.
I am sorry to see the City get stuck like that but I am so happy to see Daley get his dick stuck in the mud! First round and Chicago was out; Daley wasn't even out of his limo and he was flushed down the toilet! That was so good and satisfying.
Nothing like watching that miserable thief jagoff get humiliated like that on the world stage. Bravo!
Anonymous Anonymous said...
So why not put the BHO Library there? 37 acres is more than enough land. Transportation, hotel,convention center, Bronzeville...
No brainer.
5/04/2015 06:06:00 AM
How about the BHO library is made into a Virtual Library, all scans and all digital. Some servers in a room, log on, bada bing bada boom! Ahh the internet is great.
Did Daley have a fiduciary duty to taxpayers and pensioners or not ??? Answer to that question would determine if you ever see him in a perp walk or not !!!
Well, since Rahm got another four years, the seven year statute of limitations will expire on the Daley Friends, Felons & Family Plan
Here comes the Casino. Sorry Pat Quinn, there's a new Sheriff in town.
"Having that property is like money in the bank. It will never decrease in value, only increase over time."
5/04/2015 12:40:00 AM
1929.
The North Shore Family:
http://www.businesstoday.org/articles/2013/06/jim-abrams-coo-of-medline/
From the article linked to --
"For now, City Hall must continue paying the property’s former owners, the Mills family, owners of Medline Industries Inc., a medical supply business. A federal bankruptcy judge awarded the Michael Reese property to settle the hospital’s debts to the family.
"The Mills family includes Wendy Mills Abrams and her husband James Abrams, who are close friends of Emanuel. Abrams and his wife each contributed $50,000 last month to Chicago Forward, a political campaign fund the mayor’s allies used to financially support aldermen loyal to Emanuel."
So everyone look over there at Daley, wandering his private beach, phone in hand...
Announce a plan to put up low income housing, unless a private buyer comes up with the 120 million. Watch what happens.
Maybe Rahm will give this city "asset" to the PD Pension Fund?
the 11th ward daley crime saga continues wait untill patrick daley thompson is your next mayor, all CPD promotion coming out of the 11th n 19th wards,
And he's not indicted! Wonder if when the republican presidential nominee gets will he finally unleash the U.S. Attorneys office and let them take the gloves off this the most corrupt city-state-county? The Chicago river was once dirty now it's almost pristine, unlike the elected who are dirty more dirty than the river ever was!
Anonymous said...
The only reason Rich Daley isn't in prison is because he's an informant for the feds. Think it's BS, just ask yourself, why does everyone around him go down, but never him?
5/04/2015 04:54:00 AM
They have owned that little weasel since 1975, but the proof is still out there. Now he's acting all alzheimer'ish
Pension fund was raided to pay for these properties and then the market crashed in 2008.....
When will the feds declare RMD public enemy no. 1 ?
5/04/2015 10:22:00 AM
A day or two after his funeral service.
Casino site
Here is the whole interesting story of the place; I still remember the main entrance of the old brick building, with the "Alpha" and "Omega" symbols worked into the stone. Serious business going on here...
https://en.wikipedia.org/wiki/Michael_Reese_Hospital
Used to be the largest hospital in the city. "The older buildings were constructed in an ornate style. The Rothschild Nurses' Residence was built in extensive detail and ornate styling, with molded ceilings, arched double windows, solid hardwood floors, and extensive woodwork throughout."
The end was undignified..."archived medical records were kept in unsorted piles on wooden pallets, in a gutted clinical research building...In July 2009, the streets through the campus were closed, and calls to the main number were greeted by: "We're sorry. All circuits are busy now. Will you please try your call again later." Demolition began in late fall 2009 but was "complicated in August 2009 by the discovery of radioactive contamination of soil on the site. A radium separation company had previously operated on the site in the early 1900s and was purchased by the hospital to supply radium for medical procedures. The US Environmental Protection Agency has mandated a cleanup of the site to remove contamination."
Our family had quite a bit to do with Reese -- unfortunately, by the time I found out about this, we had lost some of our family history. "All patient records that have not been claimed prior to June 30, 2010 will be destroyed."
http://www.michaelreesehospital.com/closenotice.pdf
Sad.
Anonymous Anonymous said...
Pension fund was raided to pay for these properties and then the market crashed in 2008.....
5/04/2015 07:09:00 PM
That's why they want to bust out the pension...
Too many "whose whos" were in on the thievery.
No crime scene, no crime.
no pension for you!!!!!
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