from today's Crain's Chicago Business (10/24):
Wilson Yard developer lands financing for Uptown project
By: Andrew Schroedter Oct. 24, 2008
"(Crain’s) — After years of delays, Chicago developer Peter Holsten has finally nailed down the financing to complete his long-awaited $151-million Wilson Yard project in Uptown. The city of Chicago has already agreed to provide Mr. Holsten with $51 million in tax increment financing for the Target Corp.-anchored project on Broadway between Montrose and Wilson avenues. And Minneapolis-based Target is contributing about $33 million.
But with the credit markets in near lockdown, Mr. Holsten scrambled to piece together the remaining $67 million to finance the mixed-use project that's been slow to get off the ground. The Aldi Inc. store that opened in June is all that stands at the 5.7-acre site, formerly a massive Chicago Transit Authority train repair shed." ...
for the complete story
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