Still Losing Business
Cionehead has to be under orders to bankrupt the city:
Office space vacancies have soared to 28.2 percent in Chicago, which is higher than the vacancy rate from before the pandemic. The latest contraction marks the 14th straight quarter of rising vacancies, according to The Center Square.
Wirepoints Executive Editor Mark Glennon says that the "anti-business attitude" in Brandon Johnson's City Hall is strangling the business sector and costing the city thousands of jobs.
"You never see any effort to make life easier for employers here. The state of Illinois is like one big oppressive intermeddling HR department with countless rules and regulations that strangle people," Glennon told Center Square.
Glennon added the continued cratering of Chicago's businesses means trouble for the city itself. Fewer businesses mean fewer jobs and subsequently fewer taxes returned to the city, too. Worse, it is the city's homeowners that will hurt the most in the long run.
And this is directly responsible for the property taxes on the west and south sides finally catching up with the rest of Chicago.
Rehashing previous reports, the list of companies leaving is impressive, just in terms of market capital leaving town:
- ....Beam Suntory, Boeing, Caterpillar, Citadel, Guggenheim Partners, PEAK6 Investments, Schumacher Electric Corp., SC Johnson, TTX Company, Tyson Foods, United Airlines, Walgreens Boots Alliance, and many others.
And this number just beggars the imagination:
- Chicago's famed Magnificent Mile was hardest hit, too, going from 1,600 registered businesses to only 784 in 2024 -- that's a 51 percent drop.
Most of those are retail establishments, but there are attached support businesses as well (supply, restaurants, etc).
Then think about that pension buyout option they're talking about in Springfield.
Labels: city politics, money questions
posted by SCC at 12:05 AM
80 Comments:
So what if the Michigan Mile businesses lose money to burglaries, looting, robbing, stealing, shooting and killing. Businesses have insurance to cover that. The rich need to pay more so we don't have to work. The demorats and Brandon gonna feed us with more welfare. ....Right?
Dollar tree, Harold's and liquor stores. Legalize prostitution smh despicable
The Democrat politicians destroyed Chicago with horrid policies and laws. It’s still happening. Vote!!!!!!
The mayor's only job is to enrich the CTU and himself.
Doesn't give a dam about kids.
Has no respect for Business.
Is defunding law enforcement.
Cares less for victims of crime.
Has no idea how to manage anything more than his wardrobe and barber
All brought to you by the CTU and your socialist Democrats.
Detroit here we come.
The owner of the business I work at fucked up. A year or two before Lightfoot was elected the building offered to by the floor he owns. He turned them down. They even offered a year free rent. I urged him to sell and move to NWI, I told him Lightfoot would ruin the place. He said no. Now, maybe 3 people are in on a day.
Google is moving into Chicago that will bring in lots of jobs.
Shit city but I lived here my whole life so I’m staying.
He is doing everything he promised for his voters…..just ask him
I started a small business after I retired from CPD. It was an eye opener having to deal with the regulations in Illinois, the fees, the taxes, the paperwork. Illinois is one of the only states to tax your business profits twice ; once as an S corporation and then when you file your federal taxes. Make a mistake in paperwork ? Be one day late in filing your paperwork ? They fine you. Try to speak to someone in Springfield ? Not possible. They make you pay unemployment taxes on yourself as the company owner, not that you can lay yourself off.
I think this all falls under Obama’s “redistribution of wealth.”
In The Shawshank Redemption, Red called that……INSTITUTIONALIZED.
yea, but think, when all those fast food fried chicken stores open up downtown the employees will be making $25 an hour thanks to our democRATic politicians and only the criminals are allowed to carry guns on the cta trains and buses
This is what happens when politicians cater to criminals and illegals.Thank your local media who have assisted in the destruction of Chicago.
He is destroying the city because he and his sponsors hate America. They want a new BLM America.
The problem is no tax revenue pension suffers more to the idiots that bash the city against business your the worst enemy against your future! Think about it!
It has been a long term goal to eliminate pensions. Only way they can do it is via bankruptcy.
He’s the latest in the line of criminals and communists to be installed “mayor.”
Nobody gets “elected.” All elections are rigged and if you still don’t believe it then you’re willingly ignorant.
He doesn’t have power to make policy . He’s TOLD what to do like a good commie puppet by his handlers.
They never build anything, only destroy.
The final act for the city of onions. Dummycrats have destroyed some of the greatest cities in this country.
English please...
Let's not forget that the Chicago board of exchange is transitioning a large portion of the workforce to Texas. Chicago is the second coming of Detroit!
Yup. Or at least remain in a far out suburb or collar county and enjoy your retirement income free from state tax. Or go live in a trailer in Kentucky, Texas or Florida where the M/2 psychopaths are as lethal as dude. There’s never the perfect alternative but Chicago has too much to offer to completely pull out. Seven generations here, three on the job, and I’m here, too, although Geneva and Fox River Grove are looking better and better every day.
Well said
Don't forget Prickwikle ensured the her boy got elected "by hook or by crook!" but got him in. This is her revenge on the city for NOT electing her mayor and choosing Beetlejuice over her.
The next Mayoral race is 1 year, 1 week and 1 day away (02-23-27). Is that a competent candidate that this entire city can get behind and elect? Can’t wait for the day Clown Mayor is kicked out-unless CPS and their intelligent HS seniors progressively march to the polls and re-elect him.
FLEE
Don't forget Shark's!!
Love to see that "go down with the ship mentality" I will salute you from the shore of Lake Michigan in NWI as you go down...
I t’s All deliberate, destroy and make everyone a slave to the NWO. Stop the evil now.
Harris Bank appears to have vacated the building at Clark and Monroe. Not a good look.
He has done nothing for the 'Ville and we thank him for that.
Sell Soldier Field to fund the pensions!
Every residential building being planned says it will have retail spaces on the first floor. I'm not sure where they plan on finding all these viable businesses to occupy them.
He’s a visionary. Give it time.
Amen add J andJ fish and a few currency exchanges along with hair and nail salons
What seemed too big to fail in the 90s and early 00s has most definitely failed. Before coming on the job I worked downtown at several different jobs. The streets were always packed with people during the workweek and on the weekends. I rarely go downtown now, but my last few trips down there were almost depressing. Need a massive sea change in policy in the Central Business District. All it’s good for now is a backdrop for all these leftist agitator protesters to stage all their BS
The Democrat’s destroyed the city!
Spot on! We need to vote republican no matter what! Flip it red!
Hey maybe Mag Mile could all be affordable housing. fkin moron mayor.
U forgot weed dispensaries
I left 10 years go. Fuck that place
no more pension buyouts, lay off middle management,appointed political executives in government
I seem to remember someone mentioning this when Kim Fox was releasing violent people (or folks) back out in record time without any real charges, can anyone here please tell me who this Karmac individual was.
Don’t worry, Water Tower Place would be a good location for low income housing.
It’s unfortunate how idiots forget that Daley destroyed Chicago’s finances before leaving office. The damage was largely done before Rahm, Lori and Brandon took over. Daley sold valuable city assets; stole from our pension and bankrupted the city. Rahm was the better choice to lead Chicago IMO….
Harold’s Chicken #93 would bring in a lot of business for Michigan Ave.
They're moving from Fulton Market to the loop. No big deal Conehead.
you forgot sharks barbecue fish
Google liberal company which will make city more blue.
That’s sad.
You can vote all you want super blue state and blue city, you vote won’t matter.
County property taxes are calculated by assessed value based directly on 'current market value'.
The 'rate' of property taxes determines the tax bill amount.
Thus, any increase in basis of property value increases tax bill amount without increasing property taxing rate.
And/or, any increase in property tax rate increases billing without an increase in basis.
Q: What factors increase the basis value of property?
A:
Q: What factors increase the property tax rate?
A:
Oh well what can you do? The writing has been on wall for years.
I have to travel downtown three days a week and I dread it! The minute I get off the train there is the odor of skunkweed and urine! And don't dare try to use the Pedway! Kids skateboarding, bums sleeping & urinating. Trash from the fake ghetto college smoking pot!
You forgot a storefront church, and a hair braiding salon.
I’m holding my breath in anticipation!
Google is going to save the city!
Burn baby burn ghetto inferno burn baby burn… burn that muther down.
and community welfare, which can lead to skepticism about the absolute rights of private property. Some factions within the party argue that private property can contribute to inequality and social injustice. This perspective is influenced by the belief that property ownership should be balanced with the needs of the community and the collective good.
Economic Considerations
Many Democrats advocate for policies that aim to redistribute wealth and provide access to housing for lower-income individuals. This can create tension with the concept of private property, as some view it as a barrier to achieving broader social goals. The focus on communal ownership or regulation of property is seen by some as a way to address systemic issues like homelessness and housing affordability.
Conclusion
While it may seem that Democrats oppose private property, the reality is more nuanced. The party's approach often seeks to balance individual property rights with the need for social equity and community welfare. This ongoing debate reflects broader ideological divides about the role of property in society
You went with a corp. for a business entity. Its a very total distinict entity from you. Did you talk to a lawyer. Also, you will be alid off when corp. goes under?
Next time, start a store frint church.
Buy, by, auto correct sucks. Blow me.
without a doubt Dems are the problem
soon the only one's left will be ghetto welfare and illegals
They are gonna start taxing midnight basketball I heard!!
Too much like right and sadly, will never happen
Can I buy you a drink/donut/or whatever you fancy and just enjoy your brain
Yea I stuck here retired 2 years ago. Looked to moving to burbs but 15 to 20 thousand in property tax I’ll stay here and deal with the shit. Lots to do in Chicago year round. Great festival in summer.
Vote for who there all democrats.
Exactly!!!
They built a new BMO tower just south of Union Station. The State bought their old building on LaSalle, turned it into a Secretary of State office and renamed it after that great Democrat hero, Jesse White.
You forgot Chicago 's losing problems are all because of Democrats. Look no further. They are the financial destroyers of a once great city. They and their corrupt media whores.
Imagine a world without Liberals.
I’m voting with my feet soon. Good luck!
Best post of the day.
That Public School education of yours is abundantly clear. Thanks for the chuckle.
They could lay off 50 percent of current middle management and the city would run just as efficent.
The Little Red Hen says, fuck off.
want to know what michigan ave will look like some day drive down maywood ill on 5th ave between lake street n roosevelt rd
I feel you baby. Sounds like a 103 CTA Bus trip from Longwood to Hamlin. Might as well staple urinal pucks to the Shannon Center wall. Don’t get me started about those CPD potheads earning puppy mill MBA’s…
Bmo Harris bank is in a new tower at Van buren and Canal.
Post a Comment
<< Home