Chicago hits snag on Olympic Village site

The city of Chicago's plans to locate an Olympic Village on a former hospital campus has hit a road block because of soaring demolition and environmental cleanup costs and a recalcitrant property owner.

Chicago 2016 chairman Patrick Ryan said demolition and cleanup costs of the Michael Reese Hospital campus has soared beyond original estimates of $20 million to a projected $32 million. Ryan said an attempt to renegotiate the purchase price with the property's owner, Medline Industries, were unsuccessful.

Ryan said the city has until February 2, when the final 2016 Summer Olympics Games bid book must be in the hands of the International Olympics Committee, to pursue an alternative village site.

According to city officials alternative sites for the village include the air rights over a truck staging area for the McCormick Place convention center.