Value of Chicago’s tallest skyscraper, Willis Tower, falls well below Blackstone’s loan balance – CoStar
The value of Chicago’s tallest skyscraper has plunged in a recent appraisal that says the 110-story former Sears Tower is now worth far less than the $1.3 billion-plus that Blackstone still owes on it. Willis Tower’s appraised value has fallen to $1.03 billion, according to a report Thursday by Morningstar Credit. That is sharply down from the pre-COVID appraised value of $1.78 billion in 2018, when the tower at 233 S. Wacker Drive was refinanced with new commercial mortgage-backed securities debt.
“Illinoisans and the businesses that have set up shop here can’t be tapped every single time the math doesn’t add up.”
Weeks after the construction of the Bally’s Chicago casino was halted amid questions about the use of a reputed mob-connected garbage company, the Illinois Gaming Board is allowing work to resume. But the state government agency, which answers to Gov. JB Pritzker, was mum on details.
Fuyao is making a
A group of union-dominated states – including California, New York, Oregon, Colorado and Illinois – are opposed to any form of school choice. Now the feds may deliver school choice to those states anyway via the Educational Choice for Children Act (ECCA).
Chicago Board of Education president Sean Harden showed up at a recent bid conference for 108 O’Hare concession contracts, even as he works to execute Mayor Brandon Johnson’s education agenda and tries to pave the way for the mayor’s chief of staff, Cristina Pacione-Zayas, to become interim CEO of the Chicago Public Schools.