CHICAGO - Northwestern Memorial Hospital in Chicago last week announced a $600 million project to replace its current facilities that will be partially financed with proceeds from the issuance of $225 million of revenue bonds. Eugene Principi, treasurer and senior vice president of finance for Northwestern Memorial Corp., which oversees the hospital's finances, said the five-year project will enable the hospital to replace its aging facilities located near downtown.

A new hospital, outpatient center, and physician offices will be constructed on a nearby parking lot currently owned by Northwestern University.

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