CHICAGO (WBBM NEWSRADIO) - There could be a major hitch in the city’s attempts to have a casino built along the North Branch of the Chicago River where the Tribune printing plant currently sits.
Bally’s bought the 30-acre site on which the Tribune printing plant is. They paid $200 million dollars last year. But, in order to go ahead with plans to build a casino complex on the site, Bally’s still needs to buy out the lease by the Trib’s parent company Alden Global Capital and find the Tribune a new location for a printing plant.
Alden meanwhile had recently extended its lease on the land for another 10 years, and, Crain’s reports there are hiccups in the negotiations to make it financially attractive for the Tribune to move somewhere else.
Mayor Lightfoot has been counting on the casino being built to generate money to fund city pensions.
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