Not So Magnificent Mile
And it explains part of the story just above this post about the budget shortfall getting bigger:
- [...] Softness in the tourism and convention businesses -- [...] -- are hurting the Midwest's most prestigious retail district. It has weathered past downturns relatively well, thanks largely to the curiosity of out-of-town visitors.
But today the Magnificent Mile is enduring its highest vacancy rate since 1992. Retailers Lord & Taylor, Talbots Inc. and William-Sonoma Inc.'s Pottery Barn all recently shuttered large stores.
Also contributing to the problems?
- Last year the number of empty shops hit 6.3%, up from 4.4% in 2007 and just 1.0% in 2002, said Bruce Kaplan, a senior vice president at CB Ellis, a commercial-real-estate firm that conducts an annual survey on the Mile's rents and vacancy rates.
- The sales tax in surrounding Cook County was raised last year to 10.25%, highest in the nation. This year, after the city privatized public parking meters, downtown rates climbed to $3.50 an hour. State legislators are considering a series of tax increases to close a nearly $12 billion budget deficit.
- A decline in out-of-town visitors also is hurting business. Downtown Chicago hotel occupancy rates dropped to 48% this February, from 54% in February 2008 and 60% in February 2007, according to STR Global, which tracks the hotel industry. Room rates are down 11% from last year. Among the largest 25 markets in the nation, Chicago has experienced the third-largest decline in hotel traffic, behind only Phoenix and San Francisco, STR said.
A economic death spiral. But bring on the Olympics!
Labels: we got nothing
posted by SCC at 12:02 AM
53 Comments:
The effect of Stroger's sales tax rippled down to the retailers on Michigan Avenue. The economy is terrible and the elected Dummies raised taxes. How dumb can you get? By the end of 2010, the "Magnificent Mile" will have close to 20% vacancy.
I MUST SEE AT LEAST 5-10 METER MAIDS A TOUR...
COULD U IMAGINE THE CITY HIRING THAT MANY OFFICERS!
THESE GUYS R EVERY WEAR!
HOW MUCH R THESE GUYS MAKING!!!
if you tax them....they will leave
Raising taxes is the only way to cover buget deficits. They know this....the question is...who taught them this!!!
Raise property taxes...cut hiring, less employees paying income tax.
Raise Unemployment Tax...cut hiring, less employees paying income tax.
Raise sales tax...less people shopping here, so less people paying sales tax.
Raise parking "tax"...less people parking at meters.
Raise property taxes...more people AND BUSINESSES moving FROM the city, less people paying these taxes.
(sorry- forgot about the empty storefronts that I see more and more of daily--NOT DALEY)
take-out tax...less people eating out, taking out, less people paying this tax. (Watch McDonald's at Navy Pier about this...they will charge you this tax and most people won't notice it until they read their reciepts, as they are dumping their garbage--in the restaurant)
Raise cigarette tax...more people buying cigarettes over the border, less people spending money in local merchant establishments.
DON'T THESE F@(%ERS GET IT???
YOU ARE KILLING BUSINESSES, JOBS, AND VISITORS. Oops, I forgot the hotel taxes. Good thing SCC mentioned that one.
Keep voting democrat cause your Daddy did, 30 years ago. Wake up Chitcago!!! Crook County!!!
Let me see, If we only had 5,000 cops who would try to write 5 parkers a day at $50 a pop, that's about a quarter mil a day.
But we have 13,500 cops...Pwahhhhhhh!!! RAFLMAO!!!!!!!!!Pwwaaaahhhh!
This city is lying like a rug to Mr. John Q. Public.
Think about it...maybe if we had a contract, and every copper tried to write just five a day, it would be 1.5mil over the six day work week.
Mr. Daley miss that money do you??? Get back to the table puss. We'll pay off the retro checks in a month. Goofball!!!
Democrats, you just don't get it do ya? Shhhh! I got a whole can of Shhhh! Let me tell you about a man name Shhhh! Shhh! Shh! Sh!
Silly, Silly Silly! --Goofball!!!
Just keep chasing the little business away! now will oily eddie burke implement his idiotic tax on all delivery trucks that deliver downtown? eddie wants this,these morons have no concept of spending our money! eddie spends our money on 6 valets,the 300K personal blue light camera on his mcmansion plus more!
Who the hell wants to go to the mag mile to pay more money? Highest sales tax + ticket happy meter maids...for lack of a better term. Woodfield sounds like a much better idea, doesn't it. Hell, the HIP suits me just find.
Potholes, business leaving, rampant corruption, police without a contract, HOCKEY on the rise...dare I say this place is turning into...DETROIT!!!!
This town needs an enema!!!
I bring all of my out of town guests and relatives to the Aurora Outlet Mall, the Huntley Outlet Mall, Gurnee Mills or Prime Outlets at Pleasant Prairie,Wisconsin to go shopping.
You can purchase the same items for 40-50% LESS.
There is also ample free parking, cheap prices and much lower sales tax. Wisconsin sales tax is 5%.
This is not rocket science, we do go downtown on the Metra to sightsee but never to buy anything.
That's right Chicago. Keep following the advice of the genius's out here in California and keep those taxes hiking up. Soon your streets will be as empty as ours and you'll save millions when you can completely eliminate street cleaners, city waste containers, cut your public trans. in half (like we just did) and eliminate all those huge public schools that use up so much natural gas when all your citizens flee to nearby states. But we'll always have our cable cars and you'll always have your bean. We just don't have anyone that want's to see either one of them or wants to pay a parking meter ten dollars to see them at any rate.
From what I was told by a few business owners Downtown was that due to the high taxes and "forced" use of unions - Chicago is way down in the number of conventions. As a manager at a Viagra triangle bar told me, the conventions use to bring many of the same people year after year and most would spend and tip big time on their corporate credit card. Many of the regular conventions in Chicago are now going elsewhere to save on taxes and shabby convention centers union workers.
And they want to raise the taxes again! Why would anyone shop in Shitcago or Crookcounty? Pay the highest sales tax in the nation. Followed by the highest parking fees. Possibly getting nailed with a $100.00 fine for a red light getting downtown. I hope this is a sign of things to come. I hope finally these citizens are fed up paying Daleys corruption tax! Kenosha has a 5.5% sales tax. Hammond has I believe 6.0% sales tax.
"An economic death spiral. But bring on the Olympics!"
Yeah, nothing that customers like better in the middle of an economic death spiral than really expensive metered street parking...
Why not make State Street into a "pedestrian mall" again? I saw them put it in (you should have seen the old streetcar rails and paving blocks that were under there) and, eventually, I watched them tear it out again years later. It was such a stupid idea that it's time for it to go in again, I guess.
"Shovel-ready project" to absorb all that stimulus money...
the magnificent mile-- a pickpockets paradise due to the high amount of tourists who have no street smarts and are like lambs being led to slaughter. and the 018 district says no theft because you didn't see someone take your wallet so it must be lost property. amazing how that LOST credit card gets run up for thousands of dollars before the vic can cancel it.
IT COST'S TOO MUCH TO VISIT CHICAGO !!!!
this place is one giant rookery with taxes, fees and fines compeeting for your last dime.
WTF !
why would anyone in their right mind choose to come here ?????
Could the groups of underprivledged teenagers from the south and west sides roaming the Mag Mile have anything to do with it? Was down at Apple last week with my daughter and thought I was at Madison and Pulaski. Mutts everywhere. Here one - there one - even in DC one - mutts abound.
Declining Hotel revenues? Isn't the payment for Sox Park and/or Soldier Field predicated on Hotel Tax receipts? AND isn't any shortfall backed up by the city taxpayer??
Wasn't that a controversy the last time they started seeing declining hotel tax receipts? The Chicago taxpayer is on the hook if they cannot cover the bond payments?
As for shopping on Mag Mile or any Chicago retail store, there is no rush from out here in the suburbs (non-Cook County) to come down and pay 10.25% tax PLUS $25-$30 for parking. And sporting events? That's why everyone bought some BIG flat screens. Coming to Chicago is a hassle at best.
CUT THE TAXES AND CUT THE SPENDING. Easy solution to get more business back into Chicago and Cook County.
While walking from the Metra station to the demonstration we had recently, myself and others couldn't get over how empty the downtown streets seemed to be. Years ago I worked downtown and at that time of morning, 11 to noon, the sidewalks were always jammed with people and the streets were gridlocked. Years ago you'd be hearing the honking of horns etc. It was almost like what Sundays used to be like downtown, empty, and this was a week day. WOW, a real eye opener.
So what if the Mag Mile has no shops for Olympic visitors to spend $$$$$$$$$$
Shortshanks still has "Da Maxwell Market" !!!!! Just ask him, Da world visitors can find all kindsa nice tings to buy !!!!!!!
Viva Chicago !!!!!! NOT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Chicago = South Detroit
WELCOME WALSH CONTRUCTION AND THE MAYORS OLYMPIC BID=YOU LOOSE AND PAY AND PAY AND PAY AND CONTINUE TO VOTE DEMOCRATIC AND THINK YOU WILL GET SOME CLOUT!!! YOU GET WHAT YOU DESERVE
Re. the parking meters? It has been my experience that if you are just running a quick errand, go to one of the open air lots if you see one. Tell the guy that you're only going to be about 20 minutes. He'll tell you, okay, six bucks. My bet is he pockets it, but I'd rather give $6.00 to a working stiff than feed a meter, take the real chance it will expire, then pay a $50.00 fine.
Are these idiots truly so totally disconnected from reality?
So wait just one cotton picking minute!!! Are you trying to tell me that raising taxes, parking fee's, rent and all that other shit WILL NOT make people want to come here and spend their hard earned money? Next thing you're going to tell me SCC is that raising all those things is actually bad for the economy?
I had to go downtown yesterday and believe me, if I didn't have to go I wouldn't have gone. It has been many years since I traveled to downtown Chicago and now I know why I haven't been there in so long. It actually smelled like old rotten piss and sewer water in the area of the Daley Center. I wonder if the Olympic Committee that visited got to smell this horrible odor.
What are they talking about? I've seen a great number of da ghetto population increase over the years on Michigan Ave., you walk into Water Tower Place and its like your in Englewood, holla!!!
Crook County gets very little of my extra spending money. I purchase nearly all of my goods online and have them delivered to my home, or I cross the border into Indiana to pick them up at their store. I've deprived Toddler of more than $1K in sales tax revenue, as well as the sales to the shops within Crook County.
There just doesn't seem to be any other way to strangle the system. As soon as the housing market rebounds, I'm gone from Crook County forever.
I love the city, but I'll never spend a dime anywhere within its borders.
Keep taxing the shit out of everyone and everything and you will force people to go someplace else.
SSC THATS IS WHY I SHOP IN NAPERVILLE, MY FATHER LIVES THERE, FREE PARKING SALES TAX ONLY 7.775. GO NAPERVILLE ALSO I HEAR THE MIGHTY SEISER EVEN SHOPS THERE , REMEMBER SEISER STILL RUNS IT.
Let's raise taxes again! That's always the answer.
I have friends in the industry, this is what they tell me:
1.Taxes and Fees are killing the merchants.
2. Harrasment by city officials, including massive amounts of inspecyors from city agencies writing up every little thing to generate more cash for city hall.
3. Lack of on-street parking, in the last few yeras, the city has done away with many meters, then turned around and sent prices skyrocketing.
4. Poor transportation.
5. Terrible cabs and limos downtown
6. The skyrocketing harrasment of visitors to this town along with the increse in crime. They tell me, there are no police to be seen anymore.
I live in DuPage County, but grew up on the Northwest Side. These days I simply can't afford to go into the City except to visit family and friends. Between the parking rates and the high taxes it's not worth the trip. I love the museums, but the cost to visit is just too high.
Flip side is that my friends and family love coming out here to enjoy the 'cheaper' shopping, gas and free and available parking. There really aren't any shops & restaurants down in the city that aren't out here anymore.
People with $$$ don't want to go down there and be fucked with by bucket boys, pan-handlers, psychotics, piss bums, and packs of CPS students acting like assholes.
Why would anyone live or shop in Chicago or Cook County by choice?
This place will be a ghost town soon!
Detroit will look like Disney Land as compared to Shitcago!
Most of Dupage is well over 8 percent in sales tax, so the difference with Chicago is about 2 percent. If I can find clothes in my size at a great price on State St. then the extra 40 cents won't kill me. I agree that 18th needs to step up visibility, with too many brazen mutts pulling shit on the side streets off Michigan.
"if you tax them, they won't come."
Had to park my car on the street at a meter the other day. 25cents for 7 minutes!!! $2 for one hour! Bring a row of quarters if you are coming to the loop area. Better make that two.
Speaking of meters. How will this company collect for the tickets they write? What happens if you just don't pay them? They can't boot and they're not going to take you to court for $50! Anyone know the ramifications for not paying one of their tickets?
"Speaking of meters. How will this company collect for the tickets they write? What happens if you just don't pay them? They can't boot and they're not going to take you to court for $50! Anyone know the ramifications for not paying one of their tickets?
4/10/2009 06:31:00 PM"
City retained the writing of citations and, I believe, either the lion's share of the revenue or all of it.
THIS IS ONE FUCKED UP SHIT CITY.NOBODY WANTS TO BE HERE.I WOULD BE PERFECTLY FINE WITH NO RAISE BUT LIFT THE RESIDENCY RULE SO I CAN GET THE FUCK OUT LIKE ALL THESE COMPANIES....STUPID FUCKING mAYOR.
HATER said...4/10/2009 12:19:00 AM
Ok Officer...you asked a question...you get an answer.
19.22 per hours to start if the people you see are with Dept of Revenue. Much less than you do.
And we do the job with No Gun Or Vest for backup...and shit response time from the Squads.
9.75 if they are with LaZ (William Daley's Morgen Stanley biotches).
And tell me...how many "outside of metered space" tickets do you write a tour?
Nothing personal SCC...but I am sick of people yelling at Us for Bullshit Handwritten Tickets when we use a computer.
Watch the meter maid people 2 or 3 minutes left in a meter, no one watching and they write a ticket before meter expires.If you are parking your car in a spot and there is no money in the meter these jags write a ticket before you get out of your car to put money in it,saw it happen,fuck this city, and the thief Daley.
"...we do the job...
4/10/2009 10:57:00 PM"
That's your problem right there.
City retained the writing of citations and, I believe, either the lion's share of the revenue or all of it.
_________________________________
So the tickets that the LAZ meter maids write are payable to the city with the same ramifications if they're not paid? Meaning fines that double and a car being boot eligible? Just curious how this works.
GREAT JOB DICK, NOT!
That's your problem right there.
4/10/2009 11:54:00 PM
You really want to start that up?
Had a Perp at about 1632 W. North Ave attempt to THROW a 55 year old Female PEA into the street because She wrote a Ticket on his car.
Any of you Blues that work 13 or 14 over then probably know the moron that has the currency exchange on the corner there.
She called 911....the morons they dispatched refused to go IN and arrest even though there were witnesses and more than ample Probable Cause. The Tour Sgt actually had to be convinced by a Department Deputy Director to do your job.
On the flip side, I ran into a uniform that apparently doesn't know how to figure out which Meter goes to which car, and paid the One behind his car...but he bitched when ticketed for the expired meter that his car was on.
We do the job, is that your best complaint? I got one for you...
Convince your Political Action groups to stop keeping Shithead in Office and elect ANYONE that isn't Mob'd up.
And stop re-electing the moron aldercreatures that you all apparently hate, but only whine about.
SCC is right.......you can either Whine and do nothing; or rally together and DO something.
"...we do the job...
4/10/2009 10:57:00 PM"
That's your problem right there.
4/10/2009 11:54:00 PM
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Again, no disrespect to SCC;
But whats your problem Anonymous?
Get a Ticket for an expired plate from revenue or a traffic aide?
"Again, no disrespect to SCC;
But whats your problem Anonymous?
Get a Ticket for an expired plate from revenue or a traffic aide?
4/11/2009 03:38:00 PM"
Uh, you keep on feeding the midget's monkey machine, making sure that the shankster stays in power for another 20 years, since you like laboring for his benefit so much.
Me, I'm for cutting off his easy supply of cash, forcing the prick to raise taxes again, maybe even imposing a city income tax, anything that will, finally, rouse the rabble to vote his thieving ass out in 2011.
But, you keep on thinking you're doing God's work hustling for this piece of shit.
After all, it's your bung hole and your lips.
4/11/2009 05:01:00 PM
Ah...I see what your point is.
Its a JOB......show up, work, go home at the end of the 7 hours.
You got issues, sir; may I suggest you Lateral to some Other department that is going to treat you perfectly....Might I suggest Kalamazoo County sheriff or Lake County or King County, Seattle.
You want others that work for the city to slack off and do a slow down. And you want revenue to do the same.
You going to pay our bills when we get fired for lack of productivity?
Sorry SCC, but 4/11/2009 05:01:00 PM Anonymous is a moron.
"You going to pay our bills when we get fired for lack of productivity?
Sorry SCC, but 4/11/2009 05:01:00 PM Anonymous is a moron.
4/12/2009 09:38:00 AM"
Gee, you can get fired for lack of productivity?
Sounds like you need to unionize.
Many of the regular conventions in Chicago are now going elsewhere to save on taxes and shabby convention centers union workers.
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Yep.
Also there is some resentment by the bigwigs about the midnight destruction of Meigs Field. The bigwigs liked being able to fly in very close to the convention center. just another nail in the coffin.
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