-- Connecting the dots between our economy, government and business --
A new report published by Stone Real Estate shows record-high retail vacancy of more than 30 percent. The annual report had shown a vacancy rate of about 15 percent in 2019.
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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I saw the change of retail occupancy on South Stoney Island Ave. and in Roseland. Once Stone Age old line for profit multi-employee businesses are completely replaced with hub cap shops, nail salons and tattoo parlors the sales taxes will stabilize. No worries for public pensions and the like.
The Bijou Theatre is gonna make a comeback!
Wait until the adult novelty shops start moving in!
Good margins.
Is that a Sumo wrestler or Jelly Belly Pritzker?
Yes.
El Gordo for sure
6 wig salons, 5 nail salons, a fish store, a dollar store and a shoe shine parlor are going to be the economic engine driving the city into the toilet
State St. circa 1984
What happened to good old Whimpy’s.
Burger and a shake the best.
I’ve eaten exactly one meal downtown in four years.
The Walnut Room is still nice while it lasts as is Miller’s Pub! Enjoy them while you can.