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The owner of a Loop office tower has thrown in the towel on its $230 million mortgage, according to a foreclosure lawsuit filed late last week in Cook County Circuit Court, adding to the pile of distressed office properties plaguing the heart of the city. An entity led by Paris-based lender Societe Generale alleged in a complaint that the owner of the 49-story tower at 161 N. Clark St. defaulted on its loan by failing to make its loan payment due in August.
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Audio and summary Why the Holdup Using Artificial Intelligence to Cut Illinois Government Costs? – Wirepoints
May 19, 2026
10 Comments
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.
Note to readers from Mark Glennon re: Ukraine
May 6, 2026
4 Comments
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Wirepoints’ Mark Glennon on AM560’s Morning Answer – Chicago’s struggling commercial real estate and more
April 22, 2026
5 Comments
Summary and audio linked here.
The beautiful downtown is no more. DOA, high crime (Ken Griffin warned them), High taxes, and dirty public transportation.
One by one, the Loop’s office towers are sliding into bankruptcy — the pandemic has been over for a year, but Chicago offices are only 25 Pct occupied most days of the week.