Editorial: $850M for renovations in suburban School District 214. Seriously? – Chicago Tribune/Yahoo

"An $850 million ask is a jaw-dropping figure for anyone who owns a home in District 214 suburbs, which include all or part of Arlington Heights, Wheeling, Elk Grove Village, Buffalo Grove, Mount Prospect and Rolling Meadows. Many folks have come to view this part of Cook County as one of the last affordable places to buy if you want to live and work in or near the city, but rising property taxes are crushing that reputation."
6 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
daskoterzar
7 months ago

Well, ya know…Its all about the kids. This is ridiculous.

Isn’t Illinois Fun?
7 months ago

Is Ralph Martire consulting with their boards?

mqyl
7 months ago

That should send some of the residents packing.

Ataraxis
7 months ago

The game all the suburban school districts play is to first propose a wildly inflated renovation cost, then the tax referendum loses, then they come back with a lower referendum number that’s still ridiculous, and then they scream and berate the taxpayers that “IT’S FOR THE CHILDREN!!!” When they propose the lower but still ridiculous amount, they present themselves at the board meetings and in the press as if they are magnanimous and fiscally responsible public servants. Never fall for it. They’re all radical zealots looking to indoctrinate your children and pad their bank accounts at the same time. That’s… Read more »

9mm
7 months ago

45 million for 311 S. Wacker Dr. Let that sink in for a bit.

Ataraxis
7 months ago
Reply to  9mm

That building sold for $302 million in 2014.
Imagine what it will sell for 10 years from now, because downtown is not going to be better in 10 years, it will be much much worse.
I spent a lot of time in that building as I had clients on the floors in the tower on top. It’s a beautiful building. When a trophy building loses 85% of its value in only 10 years, that’s a huge problem.
Remember that real estate is “location, location, location”.
It appears that downtown Chicago is not the “location”.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE