CHICAGO | Economic & Business Development

[marothisu]

Austin has had the 8th most amount of sales on realtor.com of the 77 community areas for December 2017 thru February 2018 combined with 190 total (condos, SFH, multi unit buildings, etc). This is more than the Loop, Lincoln Square, Edgewater, North Center, Irving Park, Near South Side, etc. In December it ranked 7th highest tied with West Ridge.

[OrdoSeclorum]

Originally Posted by IrishIllini

That's what so confusing about Austin. One analysis will depict a community that is clearly over performing/exceeding expectations and another shows a troubled community with glaring socioeconomic issues. It's definitely a diamond in the rough.

I've driven through Austin a few times, mostly on Division and Chicago but also a few side streets and I've always found its reputation to be incongruous with what I see in person. There's families doing stuff and some interesting looking businesses and well maintained homes. It doesn't seem prosperous, but just looks normal working class to me. Like, I imagine an admin at my doctor's office and my cable installer living in a house there with a couple rugrats. I don't claim to have the whole picture, of course, but it seems different to me than parts of the Southside that immediately appear obviously blighted.

[marothisu]

Originally Posted by OrdoSeclorum

I've driven through Austin a few times, mostly on Division and Chicago but also a few side streets and I've always found its reputation to be incongruous with what I see in person. There's families doing stuff and some interesting looking businesses and well maintained homes. It doesn't seem prosperous, but just looks normal working class to me. Like, I imagine an admin at my doctor's office and my cable installer living in a house there with a couple rugrats. I don't claim to have the whole picture, of course, but it seems different to me than parts of the Southside that immediately appear obviously blighted.

Austin is the 2nd largest (by 2016 estimates) community area in Chicago by population - almost 100,000 people. Just like any other area, the majority of the people who live there are normal everyday people.

Your comment about the south side though...you should probably drive through more of it. Obviously there are blighted areas with areas like Englewood being the most I've seen, but there's many areas of the South Side that are essentially the same story as what you're saying about Austin. They are completely normal and decently to well maintained for the most part. There are numerous areas I've been to and driven through where if you blind folded someone and took them there, they'd probably think they were on the NW side somewhere or even in a few spots areas like Uptown or Rogers Park.

Chatham: https://www.google.com/maps/@41.7451...7i13312!8i6656

South Shore: https://www.google.com/maps/@41.7549...7i13312!8i6656

South Chicago: https://www.google.com/maps/@41.7409...7i13312!8i6656

Greater Grand Crossing: https://www.google.com/maps/@41.7610...7i13312!8i6656

Roseland: https://www.google.com/maps/@41.7007...7i13312!8i6656

Auburn Gresham: https://www.google.com/maps/@41.7511...7i13312!8i6656

West Pullman: https://www.google.com/maps/@41.6700...7i13312!8i6656

Calumet Heights: https://www.google.com/maps/@41.7332...7i13312!8i6656


I think that if you only drive through the commercial streets of the areas like above, you might believe it's all blighted, bombed out, etc but if you actually go and drive in the neighborhoods themselves you'll see that's not necessarily true. Personally the most blighted parts of town I've visited were areas of Washington Park, Woodlawn, Englewood, West Englewood (parts), North Lawndale (I forget what Pink Line stop it is but a few blocks in South Lawndale versus a few blocks north in North Lawndale is like night and day - goes from a normal area in South Lawndale to pretty blighted in North Lawndale pretty quickly), East and West Garfield Park and maybe even parts of Bronzeville (but that's quickly erasing). The ones I showed above though I've been to and through and it's not what most people think in the actual neighborhoods.

Just look at some of the multi unit housing stock too. Most people would easily confuse this with a north side neighborhood like Lakeview, Uptown, etc:
https://www.google.com/maps/@41.7581...7i13312!8i6656

Quite honestly, if the Metra Electric converted to a city train line, you'd easily start to see some of the areas like around where I just linked to get more people seriously looking to move there. The housing stock in many areas if fairly nice and even nice and it's not bombed out like parts of Englewood are.

[OrdoSeclorum]

Originally Posted by marothisu

Your comment about the south side though...you should probably drive through more of it. Obviously there are blighted areas with areas like Englewood being the most I've seen, but there's many areas of the South Side that are essentially the same story as what you're saying about Austin. They are completely normal and decently to well maintained for the most part. There are numerous areas I've been to and driven through where if you blind folded someone and took them there, they'd probably think they were on the NW side somewhere or even in a few spots areas like Uptown or Rogers Park.

Oh yeah. My language was imprecise. I meant that Austin has the worst reputation on the West Side, and it's corollaries on the South Side seem much more blighted. I've been straight-up shocked in the past how lovely some of the blocks are on the South Side, though. There was a period of time when I'd randomly get off the Skyway and then meander over to West Town on random streets and I couldn't believe how good the bones and architecture were in some spots. (But I was also in some spots where I was like, "Okay. I'm going to dial nine-one...") Once my plane circled over a small neighborhood that was leafy as heck and looked like it was full of stone Colonial and Cape Cod houses and I've never been able to find it on Google Earth. Pretty sure it wasn't Beverly. I'm starting to think I imagined it.

[marothisu]

Looks like Uber is taking up an entire 23rd floor for a new office at 225 W Randolph (AT&T Building - Randolph & Franklin)- for Uber Freight. There are 21 job openings on their website for this division in Chicago - mostly management level. Average floor plate is 26,500 sq ft. My guess is there's going to be at least 150 people working there if they do fill it out.

[left of center]

^ Probably not the best thing from an innovation point of view having an out of town corporation buying all your start ups. Then again, a lot of these start ups are all about creating enough value short term in order to cash out and sell to a big tech firm... hence why many of them can keep hemorrhaging money yet constantly get new infusions of VC

[Vlajos]

A fast-growing marketing software company is on a hiring spree and hunting for a lot more office space in the city for the second time in two years as it tries to keep up with its own expansion.

Seven months after drastically boosting its downtown footprint to 52,000 square feet to house a slew of new employees, Chicago-based ActiveCampaign is looking at adding another 100 or more employees by the end of summer and has hired brokerage Cushman & Wakefield to help it expand its downtown office space to about 100,000 square feet, said CEO Jason VandeBoom.

http://www.chicagobusiness.com/reale...n-office-space

[moorhosj]

Originally Posted by left of center

^ Probably not the best thing from an innovation point of view having an out of town corporation buying all your start ups. Then again, a lot of these start ups are all about creating enough value short term in order to cash out and sell to a big tech firm... hence why many of them can keep hemorrhaging money yet constantly get new infusions of VC

There are two ways to look at it and both are mostly positive. On one hand, you have companies like Fieldglass and Cleversafe where the founders have gone on to invest in lots of other startups and even start new ones. On the other hand, it would be nice for some of these to grow into full IPO'd companies like GrubHub. Both outcomes help the tech ecosystem, but the IPO's might help more with outside perception.

The reality is that companies are flush with cash and those seeking growth are buying up lots and lots of smaller startups.

[bnk]

Nothing really new here but for those that can subscribe Crains lays out more numbers we already know about when taking collage percentages and the major universities adding to it.




http://www.chicagobusiness.com/artic...versity-system

March 09, 2018


In Amazon race, Illinois' trump card is its university system

By: AL BOWMAN AND TOM CROSS

...

[marothisu]

Originally Posted by left of center

^ Probably not the best thing from an innovation point of view having an out of town corporation buying all your start ups. Then again, a lot of these start ups are all about creating enough value short term in order to cash out and sell to a big tech firm... hence why many of them can keep hemorrhaging money yet constantly get new infusions of VC

Yeah, a lot of them are about it but not all. But even the ones who don't want to go to acquisition route sometimes unexpectedly do anyway. I have a friend who founded a startup here - had some levels of success and was building his own thing. Then all of a sudden BOOM - he sold the company and unless he was lying to me, he did not want to go that route. He wanted to build an empire.

[Justin_Chicago]

E-commerce site for landscapers raises $4.4 million

Fiore is building an online market to connect suppliers and landscapers nationwide. Her startup, Landscape Hub, raised $4.4 million, led by Chicago Ventures. Other investors include Hyde Park Venture Partners, Hyde Park Angels and individual investors.

Fiore is targeting what she estimates are 450,000 landscape contractors nationwide. It gets a cut of each sale made through the site. Buyers have access to more than 85 suppliers on LandscapeHub.com in 12 states. The company employs 15.

Article: http://www.chicagobusiness.com/artic...es-4-4-million

[the urban politician]

http://www.chicagobusiness.com/artic...-for-nex-group

Ahhh, finally some news from the entity that got this thread started years ago....

[IrishIllini]

Originally Posted by the urban politician

http://www.chicagobusiness.com/artic...-for-nex-group

Ahhh, finally some news from the entity that got this thread started years ago....

Were there ever any rumors concerning current NEX employees and their employment home base? Would the jobs stay in the UK or would CME bring them across the Atlantic?

[left of center]

Amazon search team in Chicago next week
Source: http://www.chicagobusiness.com/artic...cago-next-week

A search committee from Amazon will be in Chicago the middle of next week as part of its hunt for its location for a second headquarters that the company says will employ up to 50,000 jobs.

According to sources close to the matter, the company will meet with local civic and corporate leaders, likely on Wednesday, March 21, and tour a handful of proposed locations in the central area of the city.

City Hall has imposed a blackout on any news about the visit.

"Amazon has been running a very careful process. We have respected the integrity of that process since the beginning and will continue to do so," said spokesman Grant Klinzman. "I can tell you that we will continue to make clear to Amazon that Chicago is the ideal city for its second headquarters.

But the visit has been expected by early spring, and Amazon officials recently have toured locations in the New York City area.

Chicago is one of 20 sites around the country and in Canada on the company's short list.

Among locations being pitched to the company are areas around the Old Main Post Office and Union Station, the former Finkl Steel land on the North Side and vacant land along the river just south of Roosevelt Road where the University of Illinois is considering building an engineering innovation center.

I guess that explains the geodesic dome Related built this week? If so, lets hope it has the desired effect on the Amazon reps!

[k1052]

Should also be noted that Tim Cook is coming to town later this month as well for a product event at Lane Tech. Apple is also shopping for a 3rd campus site.

[the urban politician]

I did not know that Dallas based Southwest Airlines had Midway Airport as it’s largest hub.

I realize that OHare is a major hub for AA, although maybe not it’s biggest one.

But for Southwest Airlines, Midway is.

If I were Rahm I would do be using my peers of persuasion to get them to move their HQ here. Either a downtown HQ or a HQ near Midway Airport, the latter which would really help Rahm Politically because it would bring a lot of jobs to the south side.

Any thoughts on this?

[VKChaz]

Originally Posted by the urban politician

I did not know that Dallas based Southwest Airlines had Midway Airport as it’s largest hub.

I realize that OHare is a major hub for AA, although maybe not it’s biggest one.

But for Southwest Airlines, Midway is.

If I were Rahm I would do be using my peers of persuasion to get them to move their HQ here. Either a downtown HQ or a HQ near Midway Airport, the latter which would really help Rahm Politically because it would bring a lot of jobs to the south side.

Any thoughts on this?

Probably for some of the same reasons other companies don't just pick up and move their headquarters.

[the urban politician]

Originally Posted by VKChaz

Probably for some of the same reasons other companies don't just pick up and move their headquarters.

Well, reel them in!

HQ do indeed move. Can't hurt to st least try.

After all, these southern states have been stealing jobs and companies from the north for years.

[OrdoSeclorum]

Originally Posted by the urban politician

I did not know that Dallas based Southwest Airlines had Midway Airport as it’s largest hub.

I realize that OHare is a major hub for AA, although maybe not it’s biggest one.

But for Southwest Airlines, Midway is.

If I were Rahm I would do be using my peers of persuasion to get them to move their HQ here. Either a downtown HQ or a HQ near Midway Airport, the latter which would really help Rahm Politically because it would bring a lot of jobs to the south side.

Any thoughts on this?

I don't know if you remember the Wright Amendment, but it was a law in Texas that said flights out of Love Field could only fly to neighboring states. It was a way to protect DFW. If you wanted to fly to MDW from LUV, you had to connect, by law.

Anyway, Southwest threatened to move to Chicago unless it was changed. The changed the law. Since then, Southwest has paid for major expansions in Luve and Hobby. Major Southwest investment in international flights to Latin America out of Hobby.

As someone who is forced to go to Texas quite a lot for work, I fly Southwest a lot. If you look at their flight map, it's about half to little pissant destinations in Texas. El Paso, Harlingen, Lubbock. Texas is part of Southwest's DNA. It's difficult to imagine them relocating anywhere less 10-gallon than Dallas. It would be like Exxon moving to Portland or something.

[the urban politician]

^ But Midway by far gets more flight volume