The managers of Chicago's Navy Pier last week unveiled a proposed $155 million framework for a makeover of the popular downtown attraction that includes plans for a hotel, new retail shops, restaurants, and expansions of the city's Children's Museum and Shakespeare Theater.

The plan was unveiled by the Metropolitan Pier and Exposition Authority, which owns and operates the pier, and a new private entity, Navy Pier Inc., which is taking over management of its operations. An international competition will be held to put together a design team.

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