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The Chicago Christian Industrial League left Greektown so Daley pal Michael Marchese (top right) and his partners could build a condo development. The charity now can't afford to operate its $25 million new shelter (left) abd hired Illinois first lady Patti Blagojevich to raise money. (Al Podgorski/Sun-Times, AP)
Daley's clout deal puts homeless shelter in the red It was supposed to be a quintessential City Hall deal. Help the homeless. Remove an eyesore from a booming neighborhood. And help Mayor Daley’s pal build a multi-million-dollar condo development. The deal cost Chicago taxpayers at least $13.5 million. But it hasn’t worked out as planned. One of the city’s oldest homeless shelters left its crumbling home in Greektown for a new $25 million, state-of-the-art building.


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Sports

Cubs continue to look for pitching; Peavy in focus? The Cubs finished off the Jason Marquis-for-Luis Vizcaino trade with the Colorado Rockies as expected Tuesday. But will it look more like a Marquis-for-Jake Peavy deal by the time they open spring training next month?



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Entertainment

Iconic Obama portrait headed to Smithsonian museum Even before he takes office, President-elect Barack Obama’s image will become part of the permanent collection at the National Portrait Gallery, the museum announced today. The gallery acquired the iconic red, white and blue collage by Los Angeles street artist Shepard Fairey, depicting Obama with the word “Hope.” The curators at the Smithsonian Institution museum plan to hang it by Inauguration Day.
Official site: National Portrait Gallery Museum unveils Michelle Obama portrait



Business

Uptown Theatre in a Jam
David Roeder: Ald. Mary Ann Smith (48th) is encouraging a new deal involving control of the landmark Uptown Theatre, 4816 N. Broadway. What that means to the theater, empty for 25 years, or its current owner is anybody's guess, but Smith's move could be controversial. The Uptown's owner is concert promoter Jam Productions Inc., which with a partner put up $3.2 million last summer to get it in a foreclosure auction. Since then, Jam has battled in court over a $5 million reserve City Hall wants it to post to cover repairs.

Chicago ad agency to pay $15.5M for overbilling Army Job lost? Hyundai will take car back Market takes bite out of Field Museum Dow down 245 points Illinois job cuts down Flynt sues nephews, calls porn 'inferior' Black female execs need networks: study Madoff lawyer due to answer call to jail financier Ponce trades ABC mike for group's



 


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Lynn Sweet has the latest updates on President-elect Obama's transition to the White House

After the historic 2008 Presidential election, Lynn Sweet is following Barack Obama's transition to the White House every step of the way. Check back throughout the day for the latest news on Cabinet picks, the inauguration and the forthcoming Presidential pet.

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