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Hutchinson Street mansion sells for less than its 1989 price
A Prairie Style mansion on historic Hutchinson Street that had been on the market for more than 13 years sold Tuesday for less than its 1989 price. Subscribe and get unlimited access to Crain's Chicago Business. Linda Searl and Joe Valerio, who rarely work together professionally, collaborated on the bold...
Downtown office vacancy reaches new heights again
Google took a major step during the second quarter to help relieve the plight of downtown office building owners. But the latest market data keeps telling landlords' tale of woe. Subscribe and get unlimited access to Crain's Chicago Business. A venture including a retired founder of Blackstone's real estate arm...
Public schools could lose out on new state dollars after surge in corporate tax revenue
This story was originally published by Chalkbeat. Sign up for their newsletters at ckbe.at/newsletters. Create your free account to continue reading. The budget closes a roughly half-billion-dollar deficit mainly by cutting central office expenses, but it also doesn't include raises for teachers and principals whose unions are negotiating contracts. The...
ADM taps 3M CFO as beleaguered trader seeks return to normalcy
Archer-Daniels-Midland Co. — working to put an accounting scandal behind it — has hired a 3M Co. executive to oversee its finances and help restore its credibility with shareholders. Subscribe and get unlimited access to Crain's Chicago Business. An East Moline plant where workers won bigger raises after...
First social equity dispensary in U.S. is now closed
"If this is the future of cannabis, it's very scary." The first-ever social equity marijuana dispensary to open in the United States closed up shop in March, after the store’s landlord declined to renew its lease, Green Market Report has learned. But the owner says it’s not the end of the venture.
Portillo's opening its second Michigan location
Portillo's is continuing to spread the gospel of the Chicago dog around Detroit. Subscribe and get unlimited access to Crain's Chicago Business. The building owner is working with a new partner to continue the food hall operations. Hurry up with Season 4, and show us the potential of the restaurant...
Deere layoffs mount in the Quad Cities
Deere is shedding factory jobs as declining farm profits slow demand for new equipment. Subscribe and get unlimited access to Crain's Chicago Business. While the rebound in deliveries is rare good news for the embattled manufacturer, it also underscores the growing market gap between Boeing and rival Airbus. The company...
Developer exploring remake of Evanston plaza that could include 25-story tower
A Chicago firm is exploring a redevelopment of a retail plaza in downtown Evanston that could include a 25-story residential building. Subscribe and get unlimited access to Crain's Chicago Business. Rachel Herzog is a commercial real estate reporter for Crain’s Chicago Business. She joined Crain’s in 2023 from The Real...
Vote on unorthodox incentive for data centers in Chicago blocked in committee
The business community and mayor’s office teamed up today to delay a committee vote on a measure meant to incentivize storing city data within city limits in an effort to lure data centers to set up shop in Chicago. Subscribe and get unlimited access to Crain's Chicago Business. Justin...
Boeing delivers most aircraft since Alaska Airlines blowout
Boeing Co. delivered 44 commercial aircraft in June, the highest monthly total since the company curbed work in its factories in the wake of a harrowing near-catastrophe in early January involving a 737 Max jetliner. Subscribe and get unlimited access to Crain's Chicago Business. The company will plead guilty to...
Drug middlemen pay higher prices to their own pharmacies, FTC says
Drug middlemen paid their own mail-order pharmacies as much as 200 times more than the price at rival pharmacies for commonly prescribed cancer drugs, allowing them to bring in at least $1 billion in excess revenue and potentially raising the costs to patients, the US Federal Trade Commission found in an interim study.
Chevron ruling ‘confusion’ leads 4Front Ventures to scrap raise
Illinois expansion will continue despite the funding setback. 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) last week walked back a funding raise, but management doesn’t seem to mind taking it to the chin. The multistate operator cited current market conditions and “recent controversies regarding the federal regulatory outlook” as...
Developer puts Barstool Sports' Chicago office up for sale
The developer that turned a former food distribution facility on the Near West Side into the Chicago home of media company Barstool Sports has put the property up for sale. Subscribe and get unlimited access to Crain's Chicago Business. As the insurance giant leaves a massive Lincolnshire complex, it's a...
CFOs bullish on economy as profits rise — but AI costs loom
Optimism about the U.S. economy among chief financial officers rose in the second quarter, with strong consumer demand underpinning confidence. Subscribe and get unlimited access to Crain's Chicago Business. Mark Weinraub is a banking and finance reporter for Crain’s Chicago Business. He joined Crain's in 2023 from Reuters, where he...
Aon is slashing its suburban office space with Bannockburn move
Aon is finalizing a deal to drastically shrink its suburban office space and move to Bannockburn, underscoring the torture that remote work continues to inflict on landlords. Subscribe and get unlimited access to Crain's Chicago Business. The world's largest design firm recently took a swing at new ideas to revive...
Senate approves Chicago federal judge's ascent to Court of Appeals
The U.S. Senate on Monday confirmed Nancy Maldonado to become the first Hispanic judge to join the Chicago-based U.S. Court of Appeals for the 7th Circuit. The vote was 47 to 43 after a vote that stretched for more than an hour. Subscribe and get unlimited access to Crain's Chicago...
Pritzker steps up anti-Trump drive with Milwaukee abortion ads
Illinois Governor J.B. Pritzker is stepping up his fight against Donald Trump, with his pro-choice group buying billboard ads in the city that will host the Republican National Convention next week. Subscribe and get unlimited access to Crain's Chicago Business. The Rules Committee voted against a resolution that would have...
Southwest taps new board member in showdown with Elliott
Southwest Airlines Co. appointed aviation industry veteran Rakesh Gangwal to its board, an effort to fortify the carrier’s leadership amid demands for sweeping change from activist investor Elliott Investment Management. Subscribe and get unlimited access to Crain's Chicago Business. The airline is circling the wagons to defend against a...
United Airlines jet loses wheel in repeat of March incident
United Airlines Holdings Inc. says another of its Boeing Co. aircraft lost a main landing gear wheel while taking off Monday, a near repeat of an incident in March that helped trigger a federal safety review of the carrier. Subscribe and get unlimited access to Crain's Chicago Business. The addition...
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