Seems it doesn't have the dough.
"A moribund economy has crippled fund-raising, while projected costs have climbed by tens of millions to $150 million or more, insiders say," reportsGreg Hinz. "Sources close to the project say odds now are 50-50 at best that the Grant Park plan will proceed."
Funny how projected costs can climb in this town.
And one can only wonder if fund-raising for the Olympics has harmed the museum's efforts.
In any case, Hinz reports that "the museum is considering its options, including downsizing the proposed facility, getting a cash infusion from the Chicago Park District or extending the lease on its current space at Navy Pier as far as 2025."
The museum has issued a statement that say "Greg Hinz's piece in Crain's Chicago Business relies only on unnamed sources, and should be viewed with extreme skepticism."
But frankly, his credibility is higher than theirs is right now.
All things considered, museum officials should be quite pleased that their odds of moving forward are anywhere near 50-50.