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Article: Developer rebuilds after losing leader; Abrams' successors face test at LR.(LR Development Corp.after the death of founder Bruce Abrams)(Brief Article)
- Article from:
- Crain's Chicago Business
- Article date:
- September 10, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On Dec. 12, 1999, when Bruce Abrams jumped to his death from the balcony of his Lake Shore Drive condo, the world stopped for the 100 employees of LR Development Co., the development firm Mr. Abrams had launched 11 years before.
The charismatic 38-year-old wunderkind, who had made his name developing high-end condos, was about to complete his biggest project of all-the 67-story Park Tower atop the Hyatt Hotel on North Michigan Avenue.
For Mr. Abrams' chief lieutenants at LR, many of whom had spent virtually their entire working lives with him, his suicide was a jolt. Not only was he the company's big idea man; for many LR executives, Mr. Abrams was a ...