"A 76% discount from the tower’s 2006 sale price and a staggering example of the post-pandemic pain for downtown office buildings." Wirepoints’ Mark Glennon on AM560: Why We Need to “Relentlessly” Make the Blue State-Red State Case
November 5, 2026
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Glennon raised the stakes of the moment in broader civilizational terms: “This election in Illinois is not about the usual pedestrian issues… it’s about nothing less than whether Western civilization survives in our democratic republic of America because [the left], just on the open border alone, will destroy the country, and now they’re bringing in the jihadists, frankly, into the party.” Audio and summary linked here.Audio and summary linked here.
New Trier High School made national headlines nine years ago as a “canary in a coal mine” for political indoctrination in public schools. The canaries lived.
Among the consequences of economic growth that badly lags national averages are billions of lost revenue every year. Yet denial reigns in Illinois, fueling the vicious cycle of demand for higher taxes.
Chicago Mayor Brandon Johnson, ” I did this!”
This won’t do much for real estate tax collections as the new owner is definitely going to appeal their real estate tax bill!
Adjusted for inflation it sold at $0.1455 on the dollar or 14.55% of the 2006 purchase price. Ken Griffin does not miss Chicago. They lost 85.45% of their money. I call that a bad investment.
What do buildings sell for in downtown Detroit or East St. Louis? Because that’s where this is headed. There simply aren’t enough educated and skilled workers to fill the Loop anymore. They certainly aren’t within the city limits, where nearly one-third of residents live at or just above the poverty line. CPS graduates are largely unqualified. Many are barely able to read. Meanwhile, suburbanites outside the inner-ring suburbs, just like in the 1960s and 1970s, refuse to set foot inside the city limits for any reason. I’ve been downtown several times this year, and the Loop is dead. The parking… Read more »
Not to worry. The so-called progressives say the revitalization of Chicago is well underway.
Look out below…..
They will just make it up by raising property taxes on Bowmanville brownstones. Plenty of ways to get more tax dollars. You and your neighbors keep voting for this and you are getting exactly what you want. Everyone wins.
You can vote yourself into socialism, but you can’t vote yourself out…
You can vore yourself into socialism but you have to shoot your way out!!
That’s not how property taxes work. Taxing bodies are entitled to increase their levy by the lesser of CPI or 5%. They don’t raise the taxes specifically on residential property, The burden shifts to the residential property as commercial property appeals are given They don’t get more tax dollars for any other reason that they can increase their levies regardless of property valuations.
More and more people are voting with their feet taking with them family and the future Illinois taxpayers. Best of luck with that business plan. The voters are the public sector workers who have and continue to vote for the destruction of Chicago and Illinois.
Nice to hear from you again PPF. I don’t live in a brownstone or greystone. It’s a rehab frame house. I’ll admit many Bowmanville residents are hopeless Democratic voters. There isn’t a leftwing cause they won’t support. Personally as a retired person I don’t see how much longer I can continue paying 10K per year in property tax to live in my paid for home. I don’t see how my neighbors can do likewise either.
No problem. The slaves that populate Cook county will make up the real estate tax shortfall. They even like it. That’s why they live there.
Commercial real estate in da Loop is in a FREE FALL!!
Cook County residential property taxes going WAY UP!!