CHICAGO (CBS) — Two years from now, there might be another hotel on the site of the old Purple Hotel in Lincolnwood.
WBBM Newsradio’s Bernie Tafoya reports the Lincolnwood Village Board recently approved an incentive package for the proposed Shoppes at Lincoln Pointe.READ MORE: Chicago Police Release Video, Still Images They Say Show Adam Toledo Holding Gun
The $125 million project would include a 160-room hotel, a grocery store, a health club, and more retail space.READ MORE: COPA Released Body Cam Video Of Adam Toledo Police Shooting Within 17 Days, But They Have Not Always Met The 60-Day Deadline
The village board has approved $27 million in economic incentives, although they won’t kick in until construction is finished.
Lincolnwood officials were quick to point out the village is not taking any financial risk for the project at the corner of Lincoln and Touhy avenues.MORE NEWS: Lightfoot On Shooting Death Of 13-Year-Old By CPD, His Access To A Gun: 'No Evidence Whatsoever Adam Toledo Shot At The Police'
Construction has been slated to begin next spring, and should be completed by the summer of 2016.