Key Airport Appraisal Delayed Indefinitely

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Potential Gary/Chicago International Airport investors will have to continue to wait for an appraisal on 700 acres of city and airport-owned property. Our partners at The Times of Northwest Indiana report the information was slated to be delivered earlier this month, but will be indefinitely delayed. The appraisal is now in danger of being too late for an August 26 bid deadline.

The GCIA Group, comprised of Gary-based Lee Companies, Axis Consulting of Illinois, New York-based The Williams Capital Group, Airport Property Ventures of California and Illinois-based NAI Hiffman, says the delay, as well as several narrow deadlines, puts the whole project in jeopardy.

The report would help give interested parties a baseline to assemble proposals that would bring $100 million worth of investment to the area.

You can read more about the hold-up from The Times by clicking here.

Source: The Times of Northwest Indiana