More Bad News for the Chicago area... (Cary, Cleveland: sales, 2015)

[Taco1234]

Originally Posted by flamadiddle

I have an ad blocker so I didn't see that, but it would have been really funny if it was a free "Taco" instead.

Not everyone will get that one... hint - Taco1234

It's almost like you're a teenage bully, or the mean girl snickering at a table and whispering with your inside jokes

Anyhow: site selection magazine?! Ok. Yes, Illinois is in such great shape. It's basically an economic dream come true!!

Obviously that is only taking into account new projects and is not netting out closures and transfers. I find it hard to believe that a city with a negative net migration is expanding.

Also would be much better served by seeing total $ spent, not number of new projects. Simply put, a new project in SF, LA or NYC is gonna be a lot more $$$ and yield far more than one in Chicago.
In other words, just seems like some creative data spin.

[chet everett]

Originally Posted by Taco1234

It's almost like you're a teenage bully, or the mean girl snickering at a table and whispering with your inside jokes

Anyhow: site selection magazine?! Ok. Yes, Illinois is in such great shape. It's basically an economic dream come true!!

Obviously that is only taking into account new projects and is not netting out closures and transfers. I find it hard to believe that a city with a negative net migration is expanding.

Also would be much better served by seeing total $ spent, not number of new projects. Simply put, a new project in SF, LA or NYC is gonna be a lot more $$$ and yield far more than one in Chicago.
In other words, just seems like some creative data spin.

The factors that are influencing places with greater fundamental negatives when it comes to commercial real estate are quite bleak -- many of those factors have been well covered in the aftermath of the recent Presidential elections.

Sadly the failure of folks to open their eyes to the facts of Illinois / Chicago on going fiscal timebombs will be dramatic -- court orders that shut off payments to state employees, CPS shutting down weeks early, collapsing ratings of City and State debt will make borrowing unsustainably costly.

The truly disturbing aspect of fools who choose to focus only on the rose-colored reports of optimists hawking high rent offices is the massive blindness shown to the most challenged parts of Chicago. Of the 49 sites targeted for "people plaza" investment in Chicago only three have received any permanent improvements over the 18 months since launch -- Emanuel's People Plaza failure The much hyped Englewood Whole Foods is plaqued by these sorts of problems and as such highlight the smoke and mirrors Chicago politicians resort to in hiding the fact that they have no way to address the oppressive environment faced by areas once reliant on traditional labor intensive employment.

[flamadiddle]

Originally Posted by Taco1234

It's almost like you're a teenage bully, or the mean girl snickering at a table and whispering with your inside jokes

Oh lighten up Francis! After everything you've dished out, you can take a little light-hearted jab here and there.

btw, aren't you moving soon?

[Taco1234]

Originally Posted by chet everett

The factors that are influencing places with greater fundamental negatives when it comes to commercial real estate are quite bleak -- many of those factors have been well covered in the aftermath of the recent Presidential elections.

Sadly the failure of folks to open their eyes to the facts of Illinois / Chicago on going fiscal timebombs will be dramatic -- court orders that shut off payments to state employees, CPS shutting down weeks early, collapsing ratings of City and State debt will make borrowing unsustainably costly.

The truly disturbing aspect of fools who choose to focus only on the rose-colored reports of optimists hawking high rent offices is the massive blindness shown to the most challenged parts of Chicago. Of the 49 sites targeted for "people plaza" investment in Chicago only three have received any permanent improvements over the 18 months since launch -- Emanuel's People Plaza failure The much hyped Englewood Whole Foods is plaqued by these sorts of problems and as such highlight the smoke and mirrors Chicago politicians resort to in hiding the fact that they have no way to address the oppressive environment faced by areas once reliant on traditional labor intensive employment.

Yes, and then you read the quotes that these so called leaders are exchanging and it makes the picture more clear:

Chance the Rapper's generous donation to CPS Monday doesn't come close to making up for the hundreds of millions of dollars Chicago schools need to finish the year. Tuesday, finger pointing between the mayor and the governor over who's to blame escalated to a full blown verbal fight.

"I think in the last 48 hours, everyone has come to the conclusion that the emperor wears no clothes. The governor," Emanuel said Tuesday.

Rauner's spokesperson fired back at the mayor, who is 5 ft. 8 in. tall, with a one line statement: "Sounds like someone has a Napoleon complex."

https://www.google.com/amp/abc7chica...nding/1789650/

[Taco1234]

Originally Posted by jvr789

Yes, this article is in stark contrast to Reuters today. I agree with the above, if the economy is expanding what's up with the growing deficit?

Anyways, your article OP is being pushed by NWI Times. There is a major project to extend the downtown commuter rail to Munster/Dyer and the benefits of that all hinge on economic strength/growth of downtown Chicago. Maybe the reason they are covering this and not the Reuters story today

Illinois' deficit grows to $9.6 billion in fiscal 2016: audit | Reuters

Exactly. The fiscal situation in IL is one of the worst in the nation. For anyone to deny that and make it sound like it isn't that bad, is so very strange. I understand wanting the best, but facing the facts first is important. Too many people wanting to justify their home purchases by grasping at straws with articles like the NWI above that clearly is putting a spin on facts and attempting to make a pile of poop look like diamonds.

[deeman7]

Originally Posted by Taco1234

"I think in the last 48 hours, everyone has come to the conclusion that the emperor wears no clothes. The governor," Emanuel said Tuesday.

Rauner's spokesperson fired back at the mayor, who is 5 ft. 8 in. tall, with a one line statement: "Sounds like someone has a Napoleon complex."

I think it is clear who won that war of words.


I feel like Trump and Rauner would get along, but Rauner continues to distance himself from the Trump Train.

[jdiddy]

Originally Posted by IrishIllini

Not all recessions are created equal. The Great Recession was the worst since the Great DEPRESSION. When we do eventually enter recession, it's unlikely the contraction will be as crippling...unless it's due to mass unemployment due to automation, but we've a little bit of time until we cross that bridge

Given that the the state's finances worsened considerably during a time of economic stability and growth, a 'normal' recession would be a complete disaster for Illinois at this point.

[IrishIllini]

Originally Posted by jdiddy

Given that the the state's finances worsened considerably during a time of economic stability and growth, a 'normal' recession would be a complete disaster for Illinois at this point.

I don't disagree that a recession is unwelcome, but it's premature to say a moderate contraction would wreak havoc on Illinois' economy and leave most of the U.S. economically intact.

[chet everett]

...will have a MASSIVELY outsized effect on Chicago. This is not speculation but FACT, it is reflected in the abysmal bond rating of Chicago. I would urge anyone who is in doubt to read the narrative portions of the rating agency reports where it is clear that the already high premiums Chicago pays for its borrowing, together with huge levels of unfunded liabilities and no real plan to address these things through serious reforms leave the city exposed to unprecedented levels of risk.

Given that are there literally billions of unpaid bills accumulated in Illinois accounts as well even larger unfunded pension liabilities the only backstop would be some sort of Federal package. Given the animosity between Illinois two Senators of the minority party and Illinois Republican House of Representatives delegation, that includes Roskam on Ways & Means, any kind of package would be most difficult to craft...

[KerrTown]

Originally Posted by IrishIllini

I don't disagree that a recession is unwelcome, but it's premature to say a moderate contraction would wreak havoc on Illinois' economy and leave most of the U.S. economically intact.

Illinois is in a much better position than a couple of states north and probably the best in the Great Lakes/Midwest region. The reason: the other states don't have Chicagoland and its economic engine! Chicago does have great pull for Midwesterners, even in neighboring states.