New figures show downtown is being drained of apartment dwellers – Crain’s

The downtown apartment occupancy rate is down to 89.2 percent in the second quarter, its lowest level since 2002

Some tenants are fed up with the violence and mayhem that has resulted in boarded-up storefronts and made them uneasy. Others who now work from home due to the coronavirus pandemic are no longer willing to pay sky-high rents to live near an office that's closed or in a once-vibrant central business district that's suddenly sleepy.

"The Loop's like a ghost town." Suburban landlords, meanwhile, are faring surprisingly well.

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True believer
5 years ago

Thanks to lori for choosing the domestic terrorist Marxist blm organization over the safety of Chicago citizens. Lori and her machine hacks have given Chicago to the permanent victim class. Chicago is over. There is no coming back.

Mike Williams
5 years ago
Reply to  True believer

Landlords will start defaulting on mortgages. New construction will stop due to it not being needed. Downtown retail businesses will close up due to former local renters shopping elsewhere. Tourists/visitors already avoid the city. Chicago will collapse soon but suburbs may get a short term boost until Illinois itself collapses. This isn’t complicated. You just have to think about how “A” impacts “B” and “B” impacts “C” and so on.

Poor Taxpayer
5 years ago

Screw Chicago, get out of Illinois as soon as possible.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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