Chicago Council OKs $55M Tax Deal For $400M Marriott Hotel

Law360, New York (March 6, 2014, 4:56 PM EST) -- The Chicago City Council on Wednesday approved $55 million in tax-increment financing for the planned $400 million, 1,200-room Marriott Marquis hotel to be built near Chicago convention center McCormick Place, the largest in North America.

The Chicago Alderman voted 46-3 to approve the proposal for the hotel, which will be at the corner of Cermak Road and Prairie Avenue and is part of a larger agreement between the city and the Metropolitan Pier and Exposition Authority to redevelop the area into an entertainment district, according to...
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