213 W. Institute Place, a vintage seven-story loft office building in River North just sold for 61% less than was paid for the building in 2017. It's another data point illustrating the decimated value of office buildings as companies shedding office space have driven up vacancy and as higher borrowing costs have whittled the pool of prospective buyers. Many office properties in the heart of the city are now worth less than the mortgages tied to them, fueling a historic wave of distress. Chicago Teachers Union contract demands are totally divorced from reality – Wirepoints
May 8, 2024
36 Comments
Details emerging about Chicago Teachers Union’s upcoming contract show just how divorced its demands, both extreme and expensive, are from the reality at Chicago schools. It’s not just about massive salary increases, but also about money for migrant students, climate initiatives, abortions and gender-affirming care. About blocking parental notification. Count on CTU’s demands to veer further from reality until the public finally says no.
Weekly crime statistics from the Chicago Police Department: Report through 5/4/2024.
Gov. JB Pritzker calls it “ethics” reform.
It’s rare to see city leaders in Chicago take an open, unabashed stance on the collapse of literacy. To complain is deemed as too political, too racist or too anti-public schools. So it’s refreshing to see Willie Wilson, a successful businessman and leader of the black community, call for a literacy initiative “with the goal of getting 100% of Black students reading at grade level.”
In Detroit you could buy abandoned homes for a dollar! It’s coming to Chicagoland.
And the seller is nonetheless happy to get 39% back on its 2017 purchase. Think about that. Think about impending impact on residential tax burden if these many “downtown” commercial buildings sell at such significantly deflated prices.