Along with neighboring Rosemont and far north suburban Waukegan, the Des Plaines site was a finalist for the state's 10th and only remaining casino license. Although a group involved with the Rosemont site was ultimately picked, the 10th license remains snarled in legal wrangling and additional casino licenses could become a possibility.
"This deal had to be structured differently than most other straight forward leases because of the on-going Des Plaines 'casino option' on the property," says Millennium Properties, Inc. associate Ben Rosenfield. "Several agreements, including a lease buy-out, had to be ironed out."
The property is owned by Chicago-based Marc Realty, which was represented by Daniel Benassi, Rodger Chenore and Jeff Blanke of Paine/Wetzel Oncore International.
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