Illinois’s Metropolitan Pier and Exposition Authority plans to build a $400 million hotel near Chicago’s McCormick Place convention center to boost the property’s trade-show business.
The proposed hotel south of downtown will have 1,200 rooms and create 500 permanent jobs, according to an e-mailed statement today from the exposition authority, Illinois Governor Pat Quinn, and Chicago Mayor Rahm Emanuel. The authority, known as McPier, owns McCormick Place, the Hyatt Regency McCormick Place Hotel and Navy Pier, Chicago’s top tourist attraction.
The full-service hotel will be built between Indiana and Michigan avenues, along the south side of Cermak Road, according to the statement. It will help McCormick Place add about 15 events each year with a projected 80,000 attendees.
“This new hotel will help us make the case why our state should be the first choice of any show anywhere, which will fuel our continued economic recovery and put more people to work,” Quinn said in the statement.
McPier is a municipal corporation created by the state’s General Assembly. Its board is appointed by the governor of Illinois and the mayor of Chicago, according to its website.