The share of empty office space in the central business district at the end of the third quarter was 20%, up from 19.4% midway through the year, according to data from real estate services firm CBRE. The jump marked the fourth consecutive quarter that vacancy rose to the highest mark CBRE has tracked.
And yet Lightfoot wants to play Santa with $500/month checks, rather than address quality-of-life issues that affect Chicago’s premier tax-base. Folks, when downtown office vacancies spike like this, real estate tax collections in downtown for those affected buildings also spiral downwards. This isn’t a “no impact on me” situation for Chicago taxpayers. Like Chicago’s looting/shoplifting problem, where City Hall touted “stores’ insurance” as reason to not enforce criminal law, as reason to not prosecute cases where “store-loss” is less than $1000. Lightfoot, Foxx, Evans, and Preckwinkle all operate on basis that loss of revenue to businesses, whether via theft, or… Read more »
Spot on, none of the women I know are back at work downtown nor do they want to go back. They don’t feel safe in the city. I’m a guy and I don’t feel safe in the city.
I was on state street and michigan ave a week or two ago during lunch hours and it was surprisingly more crowded than I thought it was. half the people were still wearing masks outside too. The farther west you went in the loop though the less crowded it got. Daley Plaza and State of IL building was practically empty and beyond.
Heyjude
4 years ago
Delta variant- the source of all problems. If it didn’t exist, they would have to invent it …
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.
And yet Lightfoot wants to play Santa with $500/month checks, rather than address quality-of-life issues that affect Chicago’s premier tax-base. Folks, when downtown office vacancies spike like this, real estate tax collections in downtown for those affected buildings also spiral downwards. This isn’t a “no impact on me” situation for Chicago taxpayers. Like Chicago’s looting/shoplifting problem, where City Hall touted “stores’ insurance” as reason to not enforce criminal law, as reason to not prosecute cases where “store-loss” is less than $1000. Lightfoot, Foxx, Evans, and Preckwinkle all operate on basis that loss of revenue to businesses, whether via theft, or… Read more »
As long the vote rigging and DC bailouts continue, I don’t imagine they really care.
More like Crime Variant.
Drive by shooting Variant-
Car Jacking Variant and
Murder Variant
And worst of all-No Prosecution whatsoever Variant.
Spot on, none of the women I know are back at work downtown nor do they want to go back. They don’t feel safe in the city. I’m a guy and I don’t feel safe in the city.
I was on state street and michigan ave a week or two ago during lunch hours and it was surprisingly more crowded than I thought it was. half the people were still wearing masks outside too. The farther west you went in the loop though the less crowded it got. Daley Plaza and State of IL building was practically empty and beyond.
Delta variant- the source of all problems. If it didn’t exist, they would have to invent it …
They did invent it.
The first question is why – did they release it on purpose or accident? The second is who’s going to hang first?
Hmmmm……when’s the big rebound? I’m getting depressed!I know! I’ll watch ch 7 where it’s always warm and sunny! Mostly peaceful too!
Downtown is lost forever! People have no reason to go downtown anymore!
Parking rates, crime, fee’s Who needs it!
Lori, you lost! Keep all your equity, CRT in the city!