The owner of a key property next to McCormick Place has lost a nearly two-year bankruptcy fight after failing to come up with a credible plan to develop the site into a hotel-and-retail complex.
U.S. Bankruptcy Judge Jack Schmetterer ruled last week that he plans to dismiss the Chapter 11 case involving the 4.9-acre tract just north of the McCormick Place West Building, opening the door for the property’s lender, CenterPoint Properties Trust, to move forward with a foreclosure suit.
