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).

Go read it all. 

Then think about that pension buyout option they're talking about in Springfield.