Mayor proposes $12M hotel for Block 37

November 6, 2008 4:00:14 PM PST
Block 37 may be getting a major financial boost.Chicago Mayor Richard Daley has proposed a $12 million subsidy for a new Loews hotel at Randolph and Dearborn in the Loop.

Block 37 is already one of the most tax-subsidized projects in Chicago history. The $12 million is in addition to the $42.4 million the city has already committed to Block 37.