The long and twisted lawsuit between the city of Chicago and Park Grill is over.
Friday the city finally ended all appeals and some terms of the deal have been rewritten.
Nearly a year ago the city’s case, arguing the Daley administration entered into a one sided 30-year contract that favored the Millennium Park restaurant, was rejected.
Chicago paid for the restaurant’s water and garbage fees. Several of the eatery’s investors were tied to former Mayor Richard Daley.
But now, Park Grill has agreed to pay for its own water, natural gas and garbage fees. Also, the restaurant has agreed to pay base rent. Restaurant owners tell NBC 5 the new deal is very similar to what they offered the city several years ago before both sides spent millions on legal fees.
Emanuel in 2011 said the Park Grill's owners needed to pay the city property taxes. The case went all the way to the Illinois Supreme Court and the court sided with Park Grill.
Under the original terms, Park Grill's investors would be required to pay about $275,000 a year in base payments. After 10 years they've paid about $2.6 million, and taken in gross profits closer to $96 million.
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Emanuel said at the time that Chicago taxpayers were taken advantage of and he intended to "make sure city taxpayers are not in any way fleeced."
