So it looks like Chicago Mayor Daley's "bluff" has been called. The Chicago Park District never had enough money to create a lakefront park in the place of Meigs Field (KCGX).
Brief History:
Under the cover of darkness on 2003-Mar-30 Daley ordered 6 "X"'s torn through the runway with bulldozers. More information at the AOPA website (www.aopa.org)
Current Events:
It looks like an organization called Friends of Meigs (www.friendsofmeigs.org) has proposed a plan to rebuild the airport and build a park on Northerly Island--all with federal dollars. The complete plan is on their website for those interested...