-- Connecting the dots between our economy, government and business --
The Mag Mile this year continues to lose more than it wins, with its retail vacancy rate rising to 28.8%, up from 26% last year and 15% in 2019, according to Cushman & Wakefield. Recent crime in the neighborhood has only added to the negative narrative, undermining the Mag Mile’s status as one of city’s most popular tourist destinations. The recent moves by Swarovski, Cartier and Timberland will push its vacancy rate even higher.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Nail salons, hair weaving places, a fried chicken joint, bbq stand and a couple of liquor stores are the magnificent miles’ future.
All to serve the new residents.
Toss in a few abortion mills too
Chicago’s been “in the news” a whole lot lately in two ways.
Retail had enough challenges without inept Chicago and Illinois politicians pouring gasoline on the fire with social justice warrior policies. The Mag Mile is now the Mug Mile, and that’s if your lucky enough to survive an encounter with Lil Kim’s crew of marauders. Imagine 30% vacancy rates just 5 or 10 years ago. What a travesty.
Mug Mile!! I love it. Copyright that!
This is what equity looks like
You can thank the BLM rioters, looters and arsonists for killing off Michigan Avenue
And Ms. Lightfoot for not stopping the “mostly peaceful protests.”
She opened the door and citizens suffer.
North Michigan and downtown are Lori’s tar babies. She deliberately wrecked both and now they’re the twin albatross hanging Lori.