311 South Wacker. "Such a move would be one of the most jarring outcomes yet resulting from plunging office values." Totaling the unsustainable tax increases and windfall revenue during Pritzker Administration – Wirepoints
May 26, 2026
23 Comments
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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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.
Great location for the new Bears stadium.
Keep importing mooslimes and the situation will take care of itself in the form of a “knocked down.”
You should see Roosevelt road through Lombard. Not sure how many shawarma places a few miles can hold. New ones keep popping up.
What is that, a hundred million dollars an acre?
$70,000,000 is still too much. It’s like catching a falling knife. The building likely has negative value after tear down costs. It’s never performed well according to the article. It’s 40% vacant right now and only going to increase. Just the other day here we read an article from Crain’s saying that vacancy rates downtown are STILL rising and the rate of increasing isn’t slowing down, and may even be accelerating. In layman’s terms, this it the DOOM LOOP. This article is pure cope. That corner of downtown sucks and has always been slow. It’s right above disgusting lower Wacker… Read more »
The fixed/ period cost of the bldg is enormous – it’s price can decline further. Cutting loses is a legit business decision. Holding on and hoping is not.
I don’t blame the owner for taking the loss and moving on; but the new owner is simply buying someone else’s problem, even if it’s cheaper. The building is 40% vacant according to the article, not sure that cheap rents are going to attract a shrinking pool of tenants. All these office buildings downtown are merely rearranging deck chairs on the Titanic. Where will the demand come from organically to fill this space? Will new law firms, consulting firms, engineering firms relocate or form anew to fill this expensive space in a Class A building downtown? Doubtful.
Absolutely correct, where will future tenants come from? You are also correct that this area of the Loop is not desirable. In fact, any property along Van Buren is pretty seedy now that thousands of traders and their high salaried support staff have exited the CBOT area. I’m mystified as to why these developers have any optimism for downtown Chicago. I also know this building very well. I had a client on one of the top floors. You have to take the regular elevators to a high floor sky lobby, then take another elevator to the topmost floors. The views… Read more »
Watch resident demand explode when Brandon, in cahoots with developers, gets tax money to turn these buildings into Section Eight housing. 500K illegals can’t live at the airport or police stations anymore.
‘Urban Praire’ coming to the ‘Doom Loop’ sooner, rather than later?