CHICAGO | Economic & Business Development

[the urban politician]

^ Wow, the amount of food and confectionary business in Chicago is staggering.

[marothisu]

Originally Posted by the urban politician

^ Wow, the amount of food and confectionary business in Chicago is staggering.

I know you're not necessarily for it, but just imagine if Kellogg's moved from Battle Creek to Chicago, lol..

[the urban politician]

Originally Posted by marothisu

I know you're not necessarily for it, but just imagine if Kellogg's moved from Battle Creek to Chicago, lol..

Well, Battle Creek would have an existential crisis, and Chicago would just have another feather in its plumage

[left of center]

Awesome! Double whammy for Oak Brook. First McDonalds, now this. Alarm bells must be going off at village hall over there.

I grew up in the near west burbs, and fondly remember going to the Ferrara Pan factory store on Harlem and Harrison in Forest Park with my parents. Haven't been in quite some time. Don't think my metabolism can handle all that sugar like it used to

[the urban politician]

Keeping a close eye on 2 mergers that will benefit Chicago:

CME group NEX --- so far on track, shareholders approved
Dignity and Catholic Health Initiatives merger (useless healthcare administrators cough cough), creating a $28 billion entity in Chicago ---- so far on track as well

[the urban politician]

Originally Posted by left of center

Awesome! Double whammy for Oak Brook. First McDonalds, now this. Alarm bells must be going off at village hall over there.

I grew up in the near west burbs, and fondly remember going to the Ferrara Pan factory store on Harlem and Harrison in Forest Park with my parents. Haven't been in quite some time. Don't think my metabolism can handle all that sugar like it used to

Well, Hines Interests is swooping in on the former Oak Brook HQ of McD's and I bet they will turn it around. The best time to buy real estate is when times are down and everybody thinks that a place is a dump with no future (but it still has some good fundamentals working for it).

Hines plans to demo and redevelop into a mixed use campus. They will make tons of money, and it will be a great success. The city and the burbs can win.

[jpIllInoIs]

Originally Posted by the urban politician

Keeping a close eye on 2 mergers that will benefit Chicago:

CME group NEX --- so far on track, shareholders approved
Dignity and Catholic Health Initiatives merger (useless healthcare administrators cough cough), creating a $28 billion entity in Chicago ---- so far on track as well

Neither of the Health Care companies are based in Chicago, what info do you have that indicates a Chicago HQ?

[the urban politician]

Originally Posted by jpIllInoIs

Neither of these companies are based in Chicago, what info do you have that indicates a Chicago HQ?

We discussed this quite some time back. The merged entity will be headquartered in Chicago. Hopefully downtown instead of out in the burbs.

You can Google it

[Tom In Chicago]

Originally Posted by left of center

Awesome! Double whammy for Oak Brook. First McDonalds, now this. Alarm bells must be going off at village hall over there.

Ferrara are located here at One Tower Lane (same building as my office) here in Oakbrook Terrace - different village than neighboring Oak Brook - and the building is pretty full. . . it's hard to get parking anywhere nearby these days and almost all of the underground parking has been taken up by one single tenant. . . a few years ago that was not the case. . . there's a new office building going up on Spring Road near the mall and there's quite a bit of re-building going on in the legacy Sears section on the north side of the mall as well. . . so for what it's worth it doesn't seem like this area is hurting. . .

. . .

[marothisu]

Originally Posted by the urban politician

Well, Battle Creek would have an existential crisis, and Chicago would just have another feather in its plumage

Yep. The selfish me wants this. The more human side of me though thinks Battle Creek would be in crisis maybe. Honestly though, I wouldn't be surprised if they moved a few hundred c-suite people to Chicago and kept a lot more non executive operations people in Battle Creek. That way it doesn't completely screw over Battle Creek as they could still have a few thousand people employed there. I know that Kellogg's already has executives in NYC and a few other locations. It would be easier for the CEO and top level executives especially to get to a lot of locations around the world a lot easier based in a city like Chicago. As far as I understand, you can only fly to and from Chicago, Minneapolis, and Detroit from Kalamazoo/Battle Creek's airport.

I did some stalking on LinkedIn of some of the higher level executives for Kellogg's. The CMO, CFO, and Chief Growth Officer are all listed on LinkedIn as being in the Chicago area. Not sure if it's up to date. Another person or two is listed as in NYC. Kellogg's is a global company and no offense to Battle Creek, but it is pretty interesting that some of these higher level executives are still there. To me it's a little surprising especially if they are needing to travel all around the world.


Now, as far as food and beverage companies HQ'd in the downtown area (or upcoming):
- McDonald's
- MillerCoors
- Tropicana
- Conagra
- Hillshire
- Kraft-Heinz
- Beam Suntory (Jim Beam, Maker's Mark, Courvoisier, etc)
- Morton Salt
- Mead Johnson
- WM Wrigley (counting it..)
- Quaker Oats
- Ferrara Candy (moving from suburbs)
- Archer Daniels Midland
- Potbelly Sandwiches
- Fannie May

I think that a very large percentage of the above moved into the downtown area sometime within the last 10-15 years.


Then in the suburbs you have heavy hitters:
- Mondelez International (formerly Kraft)
- US Foods
- Reyes Holdings
- Eby-Brown
- Ingredion
- Cosi

[marothisu]

Also, mods - why did you move by MEAN (AVERAGE) HOUSEHOLD INCOME BY COMMUNITY AREA post to the general thread? That is pretty related to economics, don't you think?

[Chi-Sky21]

Originally Posted by Tom In Chicago

Ferrara are located here at One Tower Lane (same building as my office) here in Oakbrook Terrace - different village than neighboring Oak Brook - and the building is pretty full. . . it's hard to get parking anywhere nearby these days and almost all of the underground parking has been taken up by one single tenant. . . a few years ago that was not the case. . . there's a new office building going up on Spring Road near the mall and there's quite a bit of re-building going on in the legacy Sears section on the north side of the mall as well. . . so for what it's worth it doesn't seem like this area is hurting. . .

. . .

Seems to be doing fine, next door to me they are building close to 700,000 square feet of space at Bridge Point in Downers Grove. All up and down 355 all i see is these new truck distribution centers and light manufacturing going up.

[killaviews]

Didn’t Mead Johnson move downtown to River Point?

[marothisu]

Originally Posted by killaviews

Didn’t Mead Johnson move downtown to River Point?

Yes. You're right..

http://www.chicagobusiness.com/reale...ng-hq-downtown

[marothisu]

I found the Knight Frank 2018 Wealth Report:
http://www.knightfrank.com/resources...eport-2018.pdf

Chicago was left off of the 2017 report that I could find for some reason in which some stupid news outlets like CNBC based reports on leaving Chicago completely off. A lot of people used these types of things to justify "Chicago is dying!." So weird. Anyway, here are some rankings from the report.

Next Detroit you guys :eyeroll:

Overall (Global)
1. NYC
2. London
3. San Francisco
4. Los Angeles
5T. Chicago
5T. Singapore
7. Paris
8. Tokyo
9. Hong Kong
10. Washington DC
11. Sydney
12. Dallas
13. Boston
14T. Houston
14T. Miami
16. Atlanta

Wealth
1. NYC
2. Los Angeles
3. Hong Kong
4. London
5. San Francisco
6. Chicago
7. Singapore
8. Houston
9. Dallas
10. Tokyo
11. Washington DC
19. Miami
20T. Atlanta
24. Boston


Investment
1. NYC
2. London
3. Hong Kong
4. San Francisco
5. Los Angeles
6. Dallas
7. Sydney
8. Miami
10T. Atlanta
10T. Washington DC
13. Boston
15T. Houston
18. Chicago
21. Shanghai
22. Tokyo

Lifestyle
1. NYC
2. San Francisco
3T. Chicago
3T. Singapore
5. London
6. Tokyo
7T. Paris
7T. Washington DC
9. Madrid
10. Hong Kong
12. Los Angeles
19. Miami
21. Boston
24. Atlanta
29. Houston
35. Dallas

Future
1. NYC
2T. London
2T. Tokyo
4. Los Angeles
5. Paris
6. San Francisco
7. Boston
8. Chicago
9. Dallas
10. Singapore
13. Washington DC
14. Houston
15T. Atlanta
20T. Miami

Cities With Most Households Earning $250K+ (I think they mean metro area)
1. NYC: 1,167,131 households
2. Los Angeles: 637,749
3. Chicago: 400,416
4. San Francisco: 396,431
5. Washington, DC: 366,560
6. Houston: 298,868
7. Dallas: 297,970
8. Boston: 293,276
9. Philadelphia: 290,460
10. London: 272,604

Cities With Most Top 100 Universities (again, probably metro area)
1T. London: 4 universities
1T. Los Angeles: 4
3T. Berlin: 3
3T. Boston: 3
3T. Hong Kong: 3
6T. Beijing: 2
6T. Chicago: 2
6T. Munich: 2
6T. NYC: 2
6T. Singapore: 2


The Piri 100 (Luxury Residential Market - Change from December 2016 to December 2017)
1. Guangzhou: +27.4%
2. Cape Town: +19.9%
3. Aspen: +19%
4. Amsterdam: +15%
5. Seoul: +13.2%
6. Frankfurt: +12.9%
7. Seattle: +12.2%
8. Paris: +12%
9. Sydney: +10.7%
10. Madrid: +10.6%
16. Toronto: +8.7%
24. San Francisco: +5.9%
25. Boston: +5.8%
29. Los Angeles: +5.1%
32. NYC: +4.6%
37. Vancouver: +3.5%
44. Chicago: +2.4%
45T. Miami: +2.2%
45T. Washington DC: +2.2%
48. Tokyo: +2.0%
52. Bahamas: +1.5%
62. The Hamptons: unchanged (0%)
72. London: -0.7%
85. Dubai: -3.3%
95T. Abu Dhabi: -10%
98. Moscow: -11.3%
99. Doha: -15%
100. Lagos: -25%

Property Investment By City
1. Los Angeles: $21.3 Billion
2. Central London: $20.8 Billion
3. Manhattan: $20.2 Billion
4. Dallas: $16.7 Billion
5. Atlanta: $14.2 Billion
6. Chicago: $14 Billion
7. Boston: $12.6 Billion
8. Houston: $12.1 Billion
9. Washington DC: $10.9 Billion
10. Berlin: $10.4 Billion

Estimated 2022 GDP (metro area really)
1. NYC: $1.8 Trillion (currently $1.735T)
2. Tokyo: $1.557 Trillion
3. Los Angeles: $1.105 Trillion (Currently $978B)
4. London: $1.089 Trillion
5. Paris: $836 Billion
6. Chicago: $703 Billion (Currently $670B)
7. Shanghai: $697 Billion
8. Osaka-Kyoto: $646 Billion
9. Dallas: $592 Billion (Currently $577B)
10. Beijing: $570 Billion

[the urban politician]

Nice, Marothisu, thanks for your efforts in showing us all this data.

Chicago is doing this well without a calling card industry and with a hugely diverse economy. Could you imagine how quickly SF will drop in this list if the VC bubble bursts, or if a few technological changes render it’s highly reimbursed tech workforce redundant or obsolete?

[left of center]

Diversification has always been Chicago's saving grace. One could say that this is the city's trump card. No one industry dominates, so when one goes into a complete nosedive, others step in to fill the void. This has helped our fair city weather deindustrialization better than some of our Midwestern peers, despite it still being a brutal gut punch whose effects continue to linger.

[Baronvonellis]

Why is Paris so high? What do they even do there? When I went, it seems like all people do is sit around in cafes and parks eating croissants and coffee.

[SIGSEGV]

Someone's gotta bake the croissants and brew the coffee!

[moorhosj]

Originally Posted by Baronvonellis

Why is Paris so high? What do they even do there? When I went, it seems like all people do is sit around in cafes and parks eating croissants and coffee.

I couldn't think of a more 'Merica comment if I tried. France has more Fortune Global 500 countries than Germany or UK (only US, Japan and China have more). 31 of those Global 500 are headquartered in the Paris metro area. For comparison, Chicago has 34 Fortune 500 companies, which only counts US companies.