The owner of a Loop office tower has thrown in the towel on its $230 million mortgage, according to a foreclosure lawsuit filed late last week in Cook County Circuit Court, adding to the pile of distressed office properties plaguing the heart of the city. An entity led by Paris-based lender Societe Generale alleged in a complaint that the owner of the 49-story tower at 161 N. Clark St. defaulted on its loan by failing to make its loan payment due in August.
Ted joined Shaun Thompson to talk about about the Chicago Teachers Union’s absurd new contract demands, why so many Chicago teachers are chronically absent, and Brandon Johnson’s failed first year as mayor.
What a representation of Chicago’s plight.
The bill passed despite their votes in response to certain incidents where local prosecutors are thought to have been too lenient with non-citizens assaulting cops.
The Wall Street Journal Editorial Board cited Wirepoints’ analysis of Chicago student proficiency data in their latest piece condemning the Chicago Teachers Union’s outrageous contract demands…all while a vast majority of Chicago’s children graduate unable to read at grade level.
Ted joined Tom Miller of WJPF to talk about the details of Gov. Pritzker’s proposed $52 billion budget, why the state is struggling now that federal covid dollars have run out, the controversy surrounding Tier 2 government pensions, why Illinois’ expensive education system fails to teach children to read, the outrageous demands of the Chicago Teachers Union, and more.
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The beautiful downtown is no more. DOA, high crime (Ken Griffin warned them), High taxes, and dirty public transportation.
One by one, the Loop’s office towers are sliding into bankruptcy — the pandemic has been over for a year, but Chicago offices are only 25 Pct occupied most days of the week.