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Aldermen Approve Hospital Site Deal for Olympics

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Aldermen are letting the City of Chicago buy the land where Michael Reese Hospital sits. They say the $86-million deal could help in the city’s bid to host the 2016 Olympics. The plan is to use the land for the Olympic Village, then turn the development into mixed use housing. Alderman Toni Preckwinkle says the price is a steal.

PRECKWINKLE: So I think this is a good deal whether or not we get the Olympics and it gives us a tremendous opportunity to develop an important part of the South Lakefront.

Some aldermen were critical of the Olympic committee, though, saying they won’t support future plans for the bid if the committee doesn’t hire more minorities.

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