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Right now, McPier is a hydra-headed monster jointly run by the mayor and the governor. Since neither has ultimate responsibility, each has grabbed the goodies rather than taking care of business, with the mayoral-controlled McPier board left free to squabble with the gubernatorial- selected McPier CEO.
Adding only that 75% of Navy Pier is a flea market with Water Tower prices. Greg Hinz's column about the city's convention business slump is well worth a read, as is James Ylesia's epic investigation that inspired it.