From the Chicago Tribune — “Under the 99-year deal, Morgan Stanley will lease the Millennium Park Garage from the city and the Grant Park North, Grant Park South and East Monroe Street Garages from the Park District. Most of the proceeds will be used to retire debt on the garages and to make improvements in neighborhood parks.

“Mayor Richard Daley acknowledged the “emotional debate” but asserted that the lease represents “an outstanding deal for the taxpayers of the city of Chicago” and an opportunity to improve the parks.”

Click here to read more on the Chicago Tribune.

Despite the mayor’s comment about improving the parks… according to reports at a recent NEAR meeting, as part of the East Monroe Street garage reconstruction, the Park District Fieldhouse at the Daley Bicentenniel Plaza will be demolished and Morgan Stanley is not planning to rebuild it. – Eric

More from the Chicago Tribune –“Of the transaction total, $122 million would go toward improving neighborhood parks citywide over the next two years.”

Monday October 30th article in the Tribune.