Residential conversions gain steam with sale of two downtown office buildings — plus another deal in the works – Crain’s

A street-level photograph of an orange brick mid-rise loft office buildingTwo vintage loft office buildings downtown have sold to a developer who plans to convert them to apartments, and another office building marketed as a residential conversion candidate is moving toward a sale.
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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

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.

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