Hole Lotta Waste Sitting Beneath Chicago's Loop

CBS2 Chicago ^ | Oct 9, 2009 8:30 pm US/Central | Mike Parket

[Proud2BeRight]

Some critics call the $250 million dollar city project "outrageous" and a bad investment. It's the giant unfinished CTA "superstation" in the Block 37 development across from Daley Plaza. . **SNIP** . When the project was abandoned last year for an indefinite period, an estimated $250 million had been spent on it. Of that, an estimated $100 million came from cost overruns. Another $50 million was for mothball costs.

[Proud2BeRight]

Anyone know of any Daley/Chicago project that came in at or below budget?

[Sacajaweau]

We had the same thing going on in Rochester, NY. Millions wasted....for the Ferry and a City Block.

[ROCKLOBSTER]

Chicago is never not under construction.

[STARWISE]

~~Maybe Chicago East/White House Division will establish a Chicago Hole Recovery czar ??

"CBS 2 asked the CTA for a tour, but the cash-strapped transit agency refused. So, CBS 2's Mike Parker just wandered in on his own with a photographer.

Construction crews working on the shops soon to open at Block 37 wanted to be helpful, but it took more than a few wrong turns and trips up and down stairs to get to the spot.

The remaining shell of the superstation site is 60 feet below ground level. There's a bed for railroad tracks and something that appears to be a passenger station.

When the project was abandoned last year for an indefinite period, an estimated $250 million had been spent on it. Of that, an estimated $100 million came from cost overruns. Another $50 million was for mothball costs."

~~~

Mothball costs = continuing union upkeep payments ??

[Proud2BeRight]

"We had the same thing going on in Rochester, NY. Millions wasted....for the Ferry and a City Block."

They ever fix the "can of worms"?

[Candor7]

Sheesh. Just think what would have happened with Olympic Construction “cost overuns” if Chicago got the Olympics. No wonder Obama was panting after them so hard!LOL.

[bray]

This is where the Olympic $$ was heading!

Pray for America and Our Troops

[Nepeta]

The Can was fixed some time in the 1980s.