CHICAGO
06/05/2010 05:12 am ET | Updated May 25, 2011

Alexi Giannoulias Lincoln Hotel Sale: Building Was Worth Much More Than State's Selling Price

The $6.5 million sale price Treasurer Alexi Giannoulias accepted for a state-owned hotel once tied to indicted political fund-raiser William Cellini netted taxpayers about half of the property's estimated value at the time of the deal, the Chicago Sun-Times has learned.

Three appraisals that have not been made public until now -- two in 2008 and another shortly after the auction when Giannoulias' U.S. Senate campaign was in full bloom -- raise questions about whether the treasurer got as much as he could have for the 12-story hotel.

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