"Of cities carrying more than $5 billion of outstanding CMBS office debt, Chicago took the cake with a distress rate of 75 percent — meaning 75 percent of the city’s CMBS balance collateralized by office debt is distressed."
with chumpy Chicago homeowner prop taxpayers to make up for any lost tax revenue in case of default or devaluation on all those downtown towers one can bet for sure….as “no collective bargaining required”–CTU/Brandon & crew lavishes gold plated deals on all his public sec union buddies
333 South Wabash is obviously declining in value (considerably), but property taxes increased from 7 million to 11 million last year. The property tax increases just accelerates the decline of the commercial real estate market.
debtsor
2 years ago
THIS IS ALL LIES! I was told that foot traffic in downtown Chicago is 91% of pre-pandemic on weekdays and on weekends, foot traffic exceeds 2019 levels!
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.
The city that used to work!
with chumpy Chicago homeowner prop taxpayers to make up for any lost tax revenue in case of default or devaluation on all those downtown towers one can bet for sure….as “no collective bargaining required”–CTU/Brandon & crew lavishes gold plated deals on all his public sec union buddies
333 South Wabash is obviously declining in value (considerably), but property taxes increased from 7 million to 11 million last year. The property tax increases just accelerates the decline of the commercial real estate market.
THIS IS ALL LIES! I was told that foot traffic in downtown Chicago is 91% of pre-pandemic on weekdays and on weekends, foot traffic exceeds 2019 levels!
Carson’s , Fields, Sears, all still on State St.
All lies, you can still get a Wimpy’s with a shake. Yer darn tootin!
Here in Rockford I still miss Bob’s Big Boy. They closed decades ago. They had the best seasoned fries.