Chicago Agency Sues To Seize Land For $540M Arena Project

Law360, New York (July 30, 2013, 6:01 PM EDT) -- Chicago's Metropolitan Pier and Exposition Authority hit a local bank with an eminent domain lawsuit Monday in its efforts to take over a land parcel for its $540 million plan to build a new arena and complex of hotel and retail spaces.

The agency, also known as McPier, filed the suit in state court after negotiations with Lakeside Bank, which has a branch located on the site, failed to end in a deal. The city is attempting to take over the land for an arena project...
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