If you are a conservative what is the one name in money that most raises your ire? Yes folks it’s everybody’s favorite leftist money man George Soros. Check this Chicago Tribune article from 2004.
October 28, 2004|By Thomas A. Corfman, Tribune staff reporter.
Donald Trump has lined up three New York hedge funds, including money from billionaire George Soros, to invest $160 million in his Chicago skyscraper, a key piece in perhaps the largest construction financing in the city’s history, according to real estate sources and public documents.
Despite reports about the project’s record-breaking sales, most of them from Trump himself, many Chicago real estate developers and lenders have expressed doubts about whether the 90-story tower would ever be built.
“It is such a huge project, and the prices he said he was getting were so outside the norm,” said Robert Glickman, president and chief executive of Chicago-based Corus Bank.
“It was reasonable to say, `Is this real?'” he said.
Much of the skepticism springs from Trump’s own hype. “Chicago developers are much less flamboyant,” said Glickman.
The massive financing, which sources say also will include a $650 million construction loan from Deutsche Bank, should quell those doubts.
Trump flies to Chicago Thursday morning for a ceremonial demolition of the former home of the Chicago Sun-Times, 401 N. Wabash Ave., which will be replaced by his 2.5 million-square-foot tower. The demolition is expected to begin for real in January.
On Wednesday Trump declined to comment on the financing, emphasizing instead the luxury project’s record-breaking sales.