12/22/2008 05:12 am ET | Updated May 25, 2011

Chicago Olympic Village Could Still Be At Reese Hospital Site

It looks like the on-again, off-again plan to move the $1.1 billion Olympic Village to the campus of Michael Reese Hospital could be back on again.

Ald. Toni Preckwinkle (4th) disclosed Thursday that Chicago 2016 Chairman Pat Ryan is closing in on an agreement with Medline Industries, owner of the 37-acre Reese site. An $85 million borrowing to finance the acquisition could be approved by the City Council next month, she said.

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