Amid rumors that costs for a planned event center near Chicago's McCormick Place had skyrocketed 75%, the city's Metropolitan Pier and Exposition Authority (McPier) on Tuesday awarded a $164-million contract for the facility, about 17% greater than originally budgeted.
The contract, awarded to a team led by Clark Construction Group, Chicago, also calls for construction of a $391-million hotel in efforts to transform the area into an entertainment district and boost prospects for McCormick Place, the city's premier convention center. Among other uses, the 10,000-seat event center will host basketball games for DePaul University's Blue Demons.