CHICAGO | Economic & Business Development

[NiHao]

Originally Posted by LouisVanDerWright

This is just another reason why we ultimately need a high speed transit connection to Milwaukee. One wonders if there might not be a change of heart on Scott Walker's part if Foxconn wants a connection between it's campus and HQ?

Ideally we can just continue the HyperLoop all the way from O'Hare to Milwaukee with stops every 20 miles or so along the route. Can you imagine what a wet dream that would be? Chicago Loop to Milwaukee in 30 minutes. Milwaukee to O'Hare in 25 minutes. Loop to Mitchell Airport in 25 minutes.

That would truly be a connection to make even the fanciest Asian megacities feel inadequate.

Every 20 miles? The next stop should be mil airport, and then downtown Milwaukee. Small towns shouldn’t be subsidized.

[LouisVanDerWright]

Originally Posted by NiHao

Every 20 miles? The next stop should be mil airport, and then downtown Milwaukee. Small towns shouldn’t be subsidized.

Lol what a joke, they aren't being subsidized. If anything they need help, have you seen the state of small town America????

I'm getting married in Des Moines tomorrow, but this place is thriving. Small town America is the heart of this country. If it completely rots out we will have issues. Also you must not have ever been to the Milwaukee - Chicago corridor. It's thriving and needs to be connected to the cities. It's not like we are talking about running a train to Galena for a few tourists. Stuff like Amazon warehouses, Uline warehouses, and Foxconn plants won't fit in the city, they need Greenfield sites. It will only help Chicago if people can live in the city and work at these huge employers.

[left of center]

^ Congrats on the wedding, LVDW!








Why in god's name are you on SSP right now!? lol

[ardecila]

Originally Posted by chiphile

Not removed but perhaps relocated to create the high-ceiling grand airport terminal-like architecture. Most good terminals have plenty of retail anyway, but if 3 entire blocks are to be used as airport drop-off points (one for arrivals, one for departure, and one for ground/hotel shuttles), that curbside retail would have to move. I just think it would be awesome to have a literal airport terminal downtown, b/c who else has that(?), rather than the cave be just one thing underneath B37.

The cavern seems to be about the height/width of the Logan Square stop on the Blue Line, but not as long. It's really not that huge.

However, B37 was designed to bring daylight all the way down to the train platforms. There's a big area of floor on the lower level between Pret and the elevator banks, that is removable and probably will be removed during Musk's build-out.

Again, I think you're overestimating the capacity of this transit system. It will not be able to carry the massive volumes of people you keep referring to. However, it is possible that the B37 parking garage or portions of it could be converted to a dropoff or queuing zone. I believe the upper level of the garage is on the same level as the station cavern, while the lower levels of the garage actually go below the station.

[Baronvonellis]

Des Moines- the next Chicago!! My Grandpa was born on a farm near Des Moines, I've never been there and neither has my Dad lol. Honestly, doing a 5 hour drive there and back again through corn fields seems pretty dull, we need a high speed hyperloop to Des Moines! Congrats on the wedding though! Maybe one day in a Galaxy far far away,,, my Dad and I will do the drive to Des Moines to see all it glory, majesty, and splendor!

[LouisVanDerWright]

Originally Posted by left of center

^ Congrats on the wedding, LVDW!



Why in god's name are you on SSP right now!? lol

Haha thanks, I meant Saturday. I'm signing off now for the weekend!

PS there's a ton of good stuff on crains right now about Outcome Health, a $100 million IPO, and an article titled something like "why tech companies like Chicago more than you think. I don't have time to post them, someone else should.

[sentinel]

Originally Posted by LouisVanDerWright

Haha thanks, I meant Saturday. I'm signing off now for the weekend!

PS there's a ton of good stuff on crains right now about Outcome Health, a $100 million IPO, and an article titled something like "why tech companies like Chicago more than you think. I don't have time to post them, someone else should.

Congrats LVDW, best wishes for many happy years to you and your partner!

[sentinel]

Crain's is becoming less and less cogent in why they allow guest/opinion writers, and frankly, it's making them less appealing because they aren't reporting business news, but providing a tit-for-tat platform, especially to spread misinformation, that inevitably needs to be responded to, seemingly to just pad their reader base:

Yesterday, a known Trump sympathizer turdkin, Charlie Kirk, blasted the City Treasurer, Kurt Summers for his investment strategy for the City's money, primarily because the long-term portfolio positions favor carbon or clean-energy-related investment strategies (I will not link to the article because I've decided I will no longer do that for Crains; you can visit the site yourself). It was a non-starter debate frankly, only to try to convince readers that the strategy was silly, ineffective and will lose money, essentially trying to smear the Treasurer's office by claiming they are gambling away the City's money by focusing on non-traditional investment opportunities.

Kurt Summers replied this morning, very clearly and gracefully stating the reasons behind his investment strategy, and how his strategy has been proven to provide a greater return on investment than portfolios that focus on traditional and dirty energy companies.

My problem with Crain's is that they are giving a platform to a uneducated, 23 year old Trump-loving, sycophant who's blindly reacting to a something he doesn't understand, namely how clean energy is a better strategy for long-term investment...solely to cater to an uneducated and reactionary section of the populace...they are helping further a cult of thoughtlessness by featuring people like Charlie Kirk.

Apologies, rant over. If you would like online resources that explain how renewable and clean energy companies are helping power the future of investing (which I am heavily invested in myself), I will gladly post resources anyone can use.

[maru2501]

Rahm takes a knock for his affordable housing shortcomings

http://www.chicagotribune.com/news/c...518-story.html

[jpIllInoIs]

Not the usual tech office opening or HQ relo we are accustomed to...But i find this trend interesting. Both of these projects are built on older empty industrial land. Both are near the Loop and are intended to serve the high growth population center with e-commerce, last mile logistics. They provide new jobs and tax revenue and accelerate demand to develop other large, underutilized industrial sites.

The largest spec warehouse in over a century builds on Chicago’s history

Scheduled for completion this fall, Marina Crossings (43rd & Damen Back of the Yards) is unique in that, though it is on an infill location within five miles of Chicago’s CBD, it is a massive project on par with new developments going up on greenfield sites in Chicago’s exurbs. The finished building will be 633,000 square feet, with 32-foot ceilings, cross docking, precast construction and ample expandable car and trailer parking, on a 35-acre, rail-served property.

The I-55 Corridor has become an important industrial thoroughfare in the Chicago market. As it extends into Chicago proper, it becomes more focused on two main uses: e-commerce and food processing. Goldwasser sees a lot of parallels between those two sectors. “Really, food distribution was the original last mile delivery. That’s the way we look at it,” Goldwasser said. “Everyone’s talking about e-commerce now, where they need to be able to get to their end user immediately. That’s really what food distribution always has been in Chicago. It really hasn’t changed. The food distributors need to be just as close to the population as e-commerce, last mile delivery facilities do.”

With the I-55 Corridor connecting bulk distribution centers further south with last mile fulfillment facilities in the city, the neighborhoods along this corridor are seeing significant e-commerce, cold storage and general distribution activities. Marina Crossings is perfectly positioned to provide an ideal real estate solution for companies wishing to take advantage of its size, location, access to a labor pool of nearly two million and Chicago’s vast population of customers.

New 316k SF spec industrial building coming to Chicago

Conor Commercial Real Estate broke ground in April on their newest project, Last Mile Logistics Center I-55. A groundbreaking ceremony took place this week at the project site, located at the intersection of 51st Street and St. Louis Avenue in Chicago. (Archer Heights/Brigthon Park)

Last Mile Logistics Center I-55 will be a 316,550-square-feet, state-of-the-art spec facility situated on 19.6 acres of land and offer a Class 6b tax incentive. The building will feature 55 truck docks, 36-foot clear height, 71 trailer stalls and 50-foot x 52-foot bays. Divisible to 50,000 square feet, the facility offers logistical advantages with its close proximity to I-55 and the CTA Orange Line within the South City submarket.

“We have been preparing for this project for some time and we are ecstatic to be able to transform this underutilized infill parcel into a highly functional, Class A industrial property providing convenient transportation access and the flexibility to accommodate an array of industrial users, including e-commerce and last mile providers,” said Brian Quigley, executive vice president at Conor Commercial Real Estate.

[the urban politician]

^ I believe I had posted that news a while back

It's a wonderful trend. I want Chicago to still offer blue collar jobs, and not just turn completely into a white collar city like Boston or SF.

Diversity rules

[NiHao]

Originally Posted by LouisVanDerWright

Lol what a joke, they aren't being subsidized. If anything they need help, have you seen the state of small town America????

I'm getting married in Des Moines tomorrow, but this place is thriving. Small town America is the heart of this country. If it completely rots out we will have issues. Also you must not have ever been to the Milwaukee - Chicago corridor. It's thriving and needs to be connected to the cities. It's not like we are talking about running a train to Galena for a few tourists. Stuff like Amazon warehouses, Uline warehouses, and Foxconn plants won't fit in the city, they need Greenfield sites. It will only help Chicago if people can live in the city and work at these huge employers.

I’m from Green Bay. I have family scattered into upper michicagan. I live in Chicago.

Towns like iron mountain can die.


Those industrial sites don’t need high end rail connections. They need any rail connections. My mother used to ride down from iron mountain to Chicago on the train for shopping. That doesn’t exist anymore. Governor fuckface in Wisconsin denied tons of rail expansion. Small towns voted for him. They can die.

[spyguy]

Looks like a good candidate to move downtown

PowerShares keeps growing—even as name prepares to die

...Still, taking a train and then a shuttle bus to that Downers Grove location is a tough sell, especially for the young professionals increasingly fixated on working in the burgeoning West Loop area. There's also a disadvantage relative to San Francisco, where a lot of financial services tech talent resides, Johnson said. "They're competing against some pretty shiny objects as far as tech talent is concerned," he said.

---

Fast-growing Shure expands in Skokie

Audio gear maker Shure has a "good" business problem: not enough space for its expanding workforce.

Running out of room at its Niles headquarters, Shure opened an office in the Loop last year. Now, the company is preparing to expand into an office building it just bought in nearby Skokie.

[10023]

Chicago is getting a new corporate HQ:

https://www.nytimes.com/2018/06/26/b...alth-care.html

The division is already HQ’d in Chicago so there’s no real impact on jobs, but as an independent company it will definitely be another F500 name.

[marothisu]

Originally Posted by 10023

Chicago is getting a new corporate HQ:

https://www.nytimes.com/2018/06/26/b...alth-care.html

The division is already HQ’d in Chicago so there’s no real impact on jobs, but as an independent company it will definitely be another F500 name.

Hm interesting. GE Healthcare did over $18B in revenue in 2016, which would place them around 160th in this year's F500 rankings, about equivalent to Visa.

[the urban politician]

Yeah, if only in bragging rights it’s a nice little boost.

I wonder if they will change their name to carve out a new identity?

[left of center]

I'm somewhat worried that an independent GE Healthcare will seem like a ripe acquisition target for another conglomerate. We might end up losing that potential HQ and the jobs associated with it. I may be getting ahead of myself with this, but its still a possible and realistic outcome.

[the urban politician]

Originally Posted by left of center

I'm somewhat worried that an independent GE Healthcare will seem like a ripe acquisition target for another conglomerate. We might end up losing that potential HQ and the jobs associated with it. I may be getting ahead of myself with this, but its still a possible and realistic outcome.

Well, that can always happen with any company, really. Definitely not something to lose sleep over.

But once a corporation here is established, it's unlikely that an outsider will come in and uproot it and move it elsewhere.

[LouisVanDerWright]

Also it's just as likely that an unshackled GE Healthcare would acquire other companies or merge with others in a way that would wind up keeping the HQ here and increasing the size of the company.

At the end of the day an independent GE Healthcare is better for GE Healthcare which is good for Chicago.

[LouisVanDerWright]

The GE Healthcare company could end up doing something like this:

https://www.cnbc.com/2018/06/26/cona...cle-foods.html

Where $15 billion Conagra is possibly buying $8 billion Pinnacle foods. This would result in a $23 billion company. Would probably mean further consolidation of Conagras operations in their Chicago HQ by further reducing any remaining loyalty to Omaha.