News

After report on hotel loan, Trump blames Chicago 'politicians,' says he is 'smart guy'

Posted October 28, 2020 1:00 am

By Lynn Sweet Chicago Sun-Times

WASHINGTON - A day after The New York Times story about President Donald Trump's Chicago hotel and tower financial woes - and how he outmaneuvered his lenders and avoided taxes - the president struck back Wednesday in a tweet.

"As a developer long ago, and continuing to this day, the politicians ran Chicago into the ground," Trump tweeted. "I was able to make an appropriately great deal with the numerous lenders on a large and very beautiful tower. Doesn't that make me a smart guy rather than a bad guy?"

Trump eagerly bought the squat battleship Chicago Sun-Times building, 405 N. Wabash Ave., to build a mixed-used high-rise: a hotel, condos and retail. Trump liked the location, along the Chicago River, just off Michigan Avenue, where the higher floors would have Lake Michigan views.

The Sun-Times moved out in 2004. Trump and his family attended the topping off of the 92-story structure in 2008.

• To read the rest of Lynn Sweet's column, visit chicago.suntimes.com.

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