South Dearborn. After being approved, Scott Toberman, CEO of European-American, faced difficulties in obtaining financing for the construction. In April 2000, after several failed financing attempts, the media companies backing the antenna aspect of the proposal backed out. European-American then defaulted on payment of a $22 million mortgage on the land, forcing Toberman to return the land deed to Banque Worms Capital Corp, a representative of his lender. Today Later in 2000, several rumors circulated that the project would be revived, due to activity on the project site and several developers showing interest. Nothing ever came of it, and several years later, Hines Interests Ltd announced plans for a much more modest, building on the site called One South Dearborn. This building was completed in 2005. References External links 7 South Dearborn on Emporis Unbuilt buildings and structures in the United States