Chicago’s Magnificent Mile At Risk For Massive Store Closures, Alderman Says – CBS Chicago

There are existing vacancies, some stores still boarded up, others dealing with plummeting sales, what Hopkins calls a spike in theft, and safety concerns keeping people away.

“We’re losing tax revenue, and we are losing sales tax on a daily basis,” he said. “If this trend continues, we won’t have a viable downtown. And it’s not going to be that long. We’re talking a few years."

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Deep in the Heart
5 years ago

When people ask our hometown and we reply “Chicago” we often get askance looks. We then quickly explain that we actually lived a SW suburb, a good thirty plus miles from the dozens of weekend shootouts. Good thing that we don’t have to also explain the ever-increasing tax crush which will very soon become much more confiscatory and onerous. Did I mention that Texas has no state income tax? Consider getting the hell out under this condition: if you or your spouse absolutely hates being out of Illinois (you won’t) give it a year then move back. On the bright… Read more »

PlanningAnExit
5 years ago

Elephant in the room – the folks who are committing the crimes are the one’s who will be most impacted as our bankrupt city moves from in serious trouble to completely unsalvageable. Elephant #2, squeezed in next to #1 – none of this is going to improve because our scolder-in-chief doesn’t know how to persuade people to take ownership for their lives – ownership for their actions and decisions, ownership of parenting, ownership of standards, expectations, and the idea that we should ALL contribute to society. Look, Toni TaxWinkle – hater of sugary and artifically sweetened beverages, just created a… Read more »

Jweiland
5 years ago

What is Chicago without restaurants, nightlife, shopping? Without sporting events, concerts, conventions? Schools and lakefront closed.
only the gangbangers remain. Pritzker, Lightfoot, Foxx – you deserve it, enjoy. People of Chicago, stop voting for these morons!!!

Illinois Entrepreneur
5 years ago

I’d like to say I’m amazed that progressives cannot or will not make the connection between “more business” = “more dollars” = “more social support programs”, but I no longer am. Instead they treat businesses like an evil entity in both rhetoric and policy. Progressives don’t trust free markets, don’t like capitalism, yet have no viable alternative solution. They think that “democratic socialism” (a favorite of Millennials) will solve everything, because–you know–having just a few people control all things is definitely better than having the freedom of many to innovate and compete. This year will be the one that everyone… Read more »

Poor Taxpayer
5 years ago

It is over for Chicago the NEW DETROIT.

Joey Zamboni
5 years ago
Reply to  Poor Taxpayer

Detroit is warning their constituents not to become the new “Chicago”…

anonymous
5 years ago

I hope he didn’t have a Phd to come to this conclusion.

Riverbender
5 years ago

I Am surprised that they didn’t close at the first signs of the trouble awhile back.

DixonSyder
5 years ago

Shoplifters not prosecuted according to state law by rules imposed by the CCSAO per Kim Foxx. Multi convicted felons arrested but released with no cash bail requirements per Chief Judge Evan’s. County jail mostly empty thru the efforts of Sheriff Dart. Cook County board votes to defund the police and corrections, Preckwinkle board president. What’s the common denominator? Democrats that were all elected overwhelmingly by a voting public that has no idea of the failings that these elected individuals have instituted. People get the kind of government that they want, welcome to tax hikes, declining tax base, more crime and… Read more »

UnclePugsly
5 years ago

Reality starts to set in on what Pritzker, Lightfoot, and Foxx have done.

Governor of Alderaan
5 years ago
Reply to  UnclePugsly

Disagree. These insane fanatics reject reality. They’ll blame racism, capitalism, police, corporate media. They’ll claim the businesses never invested in the community, the unions are too weak, government is too small and underfunded, etc. these lunatics will spit out every far left taking point despite the fact that each has been proven false

UnclePugsly
5 years ago

Property values are going to plummet.

Flash413
5 years ago

You can ignore reality, but you cannot ignore the consequences of ignoring reality.

True believer
5 years ago

The south loop continues to get worse as our alderman Sophia King is an anti law and order, cop hating restorative justice supporter of Kim Foxx. She was the engineer behind the statue removal as head of the progressive caucus. She was appointed by Rahm but now caters to blm and their destruction of Chicago’s

Tom Paine's Ghost
5 years ago

Oddly CBS 2 doesn’t mention the massive shoplifting gangs and the weekly riots. That sort of thing can hurt a businesses’ bottom line too.

Fur
5 years ago

I believe that this is one of the spineless local media’s best kept secrets.

True believer
5 years ago

Lori doesn’t care. She has made it totally clear she’s only interested in what her constituents on the west and south side and get courtesy of the taxpayers.

Lana
5 years ago

Well…..Lightfoot, Pritzger didn’t do anything to prevent it!
I wouldn’t go to downtown Chicago if you paid me.

Flash413
5 years ago
Reply to  Lana

Agreed. Even those of us who only went a handful of times per year will now be more inclined to go zero times a year.

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