-- Connecting the dots between our economy, government and business --
Chicago real estate firm R2 has purchased a Michigan Avenue office tower for about half the price it sold for just more than six years ago, the latest in a series of recent sales showing how badly remote work and higher interest rates have hurt downtown office property values.
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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Look what being afraid of being called a certain word by the woke psycho left has brought you Chicago, keep being suckers to the race hustling morons like mayor brainless BJ. Red cities are benefiting big time so keep being morons Chicago, the Republican states and cities really appreciate the wealth coming in that will never go back to you, keep it up losers. Hahahahaha
That’s a lousy deal. Michigan Avenue is really far from Union and Ogilvie stations, who wants to walk that far to their office? Plus the thugs love hanging out on that side of downtown by Millennium Park and State Street.
I have zero sympathy for anyone who invests in Chicago and loses money. The downward spiral of the city is clear for all to see. There’s many other cities to invest in that don’t have Chicago’s horrible, unfixable problems.
Yes, the typical woke utopia. Now that the plandemic scam they put on is over, and all the wealth has moved out of these woke psycho hellholes, they are running big time deficits, in the billions. Getting tired of voting just because of their skin color with zero intelligence Chicago, because your government is a total clown show joke, lol
This phenomenon is sometimes referred to as a race to the bottom.
We are all aware of the real “phenomenon” that is happening and yes that certain “phenomenon” has always raced their way to the bottom. Keep being afraid of calling out the real “phenomenon” Chicago and being afraid of being called a certain word by the woke racist psycho left lol