Asbestos Found At Site Of Future Chicago Olympic Village, Construction Costs Could Rise
Asbestos found at Chicago’s Michael Reese Hospital may delay the sale of the land and the eventual construction of the 2016 Olympic Village, according to Chicago Mayor Richard Daley.Mayor Daley proposed the $85 million dollar purchase of the hospital campus and anticipated beginning demo and construction on the Olympic Village, an endeavor that would cost an estimated $1.1 billion dollars to complete over the next four years. Asbestos discovered inside hospital buildings will not only require abatement services, but will also increase the budget and delay demolition.Cost of demolishing the hospital were initially set at about $20 million, and additional abatement and removal services will most likely bring the cost up to $32 million. The Olympic Committee is now attempting to renegotiate the purchase price of the 27 buildings on the future Olympic Village site.