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Development Watch: Old Post Office

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The old Post Office building may finally be poised to emerge from its decade-long slumber. A year and a half after floating a fanciful $3.5 billion overhaul of the site, eccentric British investor Bill Davies is scaling things back a bit. He's teamed up with architect and developer Joe Antunovich to craft more a conservative redevelopment scheme which could include a new casino. With no timetable, skepticism will surely hang around. And before this iteration can proceed in earnest the state legislature needs to grant Chicago that all-important casino license, a move Mayor Emanuel has long supported. [Sun-Times via Crain's, previously, photo: teemu008 via flickr]