How much did they pay for it originally and who staked the money for it? Yes, *Tennessee-based Maharishi Global Development Fund* but which donors actually staked the money for the idea? Do they still think their money is going for 'peace-making projects'?
-D --- In [email protected], bbrigante <[EMAIL PROTECTED]> wrote: > http://www.globest.com/news/306_306/chicago/135246-1.html > > "Sage Hospitality Resources executive vice president Kenneth J. Geist > says his company has been attempting to acquire the hotel at 636 S. > Michigan Ave. for five years. The property has been vacant since 1999 > as plans by Tennessee-based Maharishi Global Development Fund to > convert the building into about 100 luxury condominiums have fizzled. > > > Although Maharishi Global Development Fund has sought a much higher > price, according to the city's department of planning and > development, Sage Hospitality Resources has struck a deal to buy the > 321,516-sf asset overlooking Grant Park for $22.3 million. Still, > city appraisals place the value of the hotel at $16 million to $19 > million. > > > When complete, the appraised value of the Blackstone Hotel--the name > will be retained under the Marriott Renaissance flag--is likely to be > less than the total cost of Sage Hospitality Resources' project, > department of planning and development officials say. The building, > which has hosted several US presidents, is in a "severe state of > disrepair," they add. McHugh Construction and architect Lucien > LaGrange have been hired for the work. (more at link) .. To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
