Bank of America N.A. and a group of lenders have moved to foreclose on
the retail and transit portion of the mixed-use development that occupies the square block opposite of what used to be Marshall Field's department store. (Story here.)
This should be no surprise; city government has been trying to develop the property for decades, with no success. The CTA superstation under Block 37 is $300 million in the red, and it's being mothballed. Meanwhile, private sector developments throughout downtown have blossomed.
Good thing that government isn't getting involved in something a lot more important and expensive like, say, health care.