-- Connecting the dots between our economy, government and business --
Rising rents have been a boon for apartment building investors amid a slowdown in new development downtown. Few major projects are on tap to be completed downtown in the next year and a half, boosting the median net rent at top-tier apartment buildings to $3.99 per square foot.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
This is a bit of good news, for a change. At least one developer apparently thinks the apartment supply shortage that’s pushing rents up makes new construction sensible.
Bet he loses money and lots of it. They can buy existing for much less money, and they will still lose money on that investment. Chicago is not a good place to put money right now. He can buy Chicago bonds and get a higher rate of return until they fail.