|By Kathy Bergen, Chicago
TribuneMcClatchy-Tribune Regional News
Feb. 19, 2013--The agency that owns McCormick Place announced Tuesday it will build a second hotel near the convention center complex, with plans calling for a 1,200-room facility that can serve as a headquarters for trade shows and conventions.
The Metropolitan Pier and Exposition Authority, also known as McPier, said it is acquiring land for the $400 million project, which will be located between Indiana and Michigan, along the south side of Cermak.
The announcement was made jointly with Mayor Rahm Emanuel and Gov. Pat Quinn. McPier has made it known for some time that it was drawing up plans to add to hotel and entertainment offerings in the area to better compete with rival cities such as Orlando and Las Vegas.
The hotel will operate in cooperation with McPier's existing hotel on the convention campus, the Hyatt Regency McCormick Place, which is undergoing a major expansion.
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