CHICAGO | Economic & Business Development

[marothisu]

Change in $100K+ earning households from 2021 to 2022, of the 10 largest city propers. Yes, the 2022 ACS (huge grain of salt...) is out

1. NYC: +164,461 households
2. LA: +60,652
3. Chicago: +38,793
4. Phoenix: +34,052
5. Houston: +27,658
6. Austin: +25,318
7. Dallas: +24,421
8. Philadelphia: +22,756
9. San Diego: +19,633
10. San Antonio: +9849

[galleyfox]

I’m becoming increasingly convinced that the ACS error in Chicago has to do with how the census bureau tracks housing units.

The household sizes make sense
The vacancy rate seems reasonable enough

But there is no dataset provided by the city of Chicago that would indicate a large recent loss of housing.

Housing Units:

2020 (DEC): 1,262,609

2021: 1,272,191
2022: 1,262,463
Net: -9,728

Occupied Housing Units:

2020 (DEC): 1,143,722

2021: 1,139,537
2022: 1,159,424
Net: +19,887

Vacant Housing Units

2020 (DEC): 119,887

2021: 132,654
2022: 103,039
Net: -29,615

Vacancy Rate:

2020 (DEC): 9.5

2021: 10.4
2022: 8.2

Household Size

2021: 2.32
2022: 2.26

[Steely Dan]

Yeah, the loss of housing units doesn't make any sense.

Especially when combined with the fact that we're building thousands more every year.

[marothisu]

Originally Posted by Steely Dan

Yeah, the loss of housing units doesn't make any sense.

Especially when combined with the fact that we're building thousands more every year.

If you break down the components then you see the Census estimates a loss of 0-18 population basically. You could have more households but the household size goes down a bit. But it doesn't look like it's reduced by too much, unless I'm reading it wrong?

[galleyfox]

Originally Posted by marothisu

If you break down the components then you see the Census estimates a loss of 0-18 population basically. You could have more households but the household size goes down a bit. But it doesn't look like it's reduced by too much, unless I'm reading it wrong?

Well, the unit loss in and of itself is an issue, and those net losses are more than estimates of the aftermath of the foreclosure crisis…

A one year reduction isn’t a lot, but a yearly net -10K unit penalty would represent a major population error by the end of the decade.

If it’s some sort of housing age formula that’s creating that result. I highly doubt Chicago is reporting to the bureau a net loss of city units.

Last decade, Chicago also had a birth rate reduction, but the population still grew because the construction was more than what the census estimated.

2012 citywide demolition permits peaked around 1500 for example.


I honestly don’t know where that unit number comes from. Detroit and Cleveland are the only other major cities that marked a reduction like that.

[marothisu]

^ I remember a town on Long Island was giving the Census crap over something like this. The Census was estimating losses, but they had data showing how much construction they had in the last few years with the occupancy rates of those new units plus the true occupied housing units of everything, and it just wasn't jibing at all with their estimates.

[Klippenstein]

Lab-Grown Chicken Firm Picks Chicago Area for Large-Scale Plant

Upside Foods Inc., one of two companies cleared to sell the product in the US, is investing more than $140 million in a new factory in one of the city’s suburbs, the company said in a statement on Thursday. This will be the California-based firm’s first commercial-scale factory.

[…]

Upside’s 187,000-square-foot plant, based in Glenview, is expected to create at least 75 new jobs. While the facility will start by producing ground cell-based chicken products, there are plans to expand to other types of meat.

[marothisu]

Change in $100K+ earning households from 2021 to 2022 where a householder is Black:

1. NYC: +24,700 households
2. Chicago: +12,090
3. Los Angeles: +8852
4. Philadelphia: +7076
5. Houston: +6818
6. Jacksonville: +6817
7. Charlotte: +6420
8. DC: +5912
9. Atlanta: +5371
10. Arlington, TX: +4664
11. Baltimore: +4382
12. Garland, TX: +3388
13. New Orleans: +3021
14. Columbus, OH: +2985
15. Newark, NJ: +2878
16. Louisville: +2863
17. Memphis: +2703
18. Richmond, VA: +2640
19. St. Louis: +2426
20. Minneapolis: +2186
21. Cincinnati: +2159
22. Austin: +2149
23. Durham, NC: +2112
24. Portland, OR: +2071
25. Lexington, KY: +1926

[LouisVanDerWright]

^ This is the only solution for the problems being discussed in the politics thread. It's great to perform near the top of the list, but it would be nice to this this number double.

[marothisu]

Originally Posted by LouisVanDerWright

^ This is the only solution for the problems being discussed in the politics thread. It's great to perform near the top of the list, but it would be nice to this this number double.

Yes. It would also be nice to see it 20X but it has to start somewhere. It's really 2 different populations. I think there's a lot of people in the community who are newer to the city in these brackets. I work with multiple of them who moved to Chicago in the last 2 years for it and I know a few other families from my kids day care who moved here this year from the coasts who are doctors, lawyers, etc. But are those in Chatham, Auburn Gresham, etc increasing fast? I would doubt it.

[OhioGuy]

This is too bad! I would often bring anyone visiting me in Chicago up to the Signature Lounge for a drink and to check out the view. If I'm going to spend money, I'd rather do so buying myself a drink as opposed to paying to visit a tourist observation floor with rambunctious kids everywhere.

Apparently the place wasn't able to recover post Covid and wasn't able to renegotiate its lease.

Signature Room on 95th floor of former Hancock building abruptly closes

[Kngkyle]

Originally Posted by OhioGuy

This is too bad! I would often bring anyone visiting me in Chicago up to the Signature Lounge for a drink and to check out the view. If I'm going to spend money, I'd rather do so buying myself a drink as opposed to paying to visit a tourist observation floor with rambunctious kids everywhere.

Apparently the place wasn't able to recover post Covid and wasn't able to renegotiate its lease.

Signature Room on 95th floor of former Hancock building abruptly closes

I ate at the Signature Room a couple times and came away unimpressed each time (with the food and service at least, the view obv is exceptional). After that I always opted to eat somewhere else and just grab a drink at the lounge. I've done that a handful of times (usually with out of town guests) and the drinks and small bites at the lounge were pretty reasonably priced. That probably wont be the case at whatever replaces it. Not too worried about it sitting vacant for long given the uniqueness of the location. Lot of potential there... wouldn't be surprised if the owner doesn't already have another tenant lined up.

[marothisu]

Originally Posted by OhioGuy

This is too bad! I would often bring anyone visiting me in Chicago up to the Signature Lounge for a drink and to check out the view. If I'm going to spend money, I'd rather do so buying myself a drink as opposed to paying to visit a tourist observation floor with rambunctious kids everywhere.

Apparently the place wasn't able to recover post Covid and wasn't able to renegotiate its lease.

Signature Room on 95th floor of former Hancock building abruptly closes

They're blaming other things but it's obvious it's about the lease negotiations. I haven't been there in a little under 2 years but it was packed back then. I only ate once at the restaurant. It was decent but not absolutely amazing or anything.

[twister244]

This is behind a paywall for me, but definitely looks like some interesting information in here about some new initiatives?.....

https://www.bloomberg.com/news/artic...mium#xj4y7vzkg

[marothisu]

French alternative meat company Umiami picked Chicago as its US HQ, to open in early 2024. Starting out small with 13 to 15 people but could grow to 250 people in the next 3 years in the US (it says "hopefully in Chicago" according to the US Managing Director who already resides in Chicago and was the former VP of Strategy for PepsiCo

https://www.chicagobusiness.com/comm...s-headquarters

[SamInTheLoop]

Originally Posted by marothisu

French alternative meat company Umiami picked Chicago as its US HQ, to open in early 2024. Starting out small with 13 to 15 people but could grow to 250 people in the next 3 years in the US (it says "hopefully in Chicago" according to the US Managing Director who already resides in Chicago and was the former VP of Strategy for PepsiCo

https://www.chicagobusiness.com/comm...s-headquarters

"French alternative meat company"

Something about that specific combination of words in that precise order that just doesn't sit well with me. I finally found my "moist".

I guess this is still good news though!

[SIGSEGV]

Originally Posted by SamInTheLoop

"French alternative meat company"

Something about that specific combination of words in that precise order that just doesn't sit well with me. I finally found my "moist".

I guess this is still good news though!

Will artificial horse meat be considered taboo too? I guess we'll find out.

I almost think the city should incentivize these companies to go to the stockyards area, for the irony of it.

[Steely Dan]

I just heard on the radio that "The French Alternative Meat Company" are coming to town in February for a three show set at the salt shed!

[urbanpln]

Originally Posted by steely dan

i just heard on the radio that "the french alternative meat company" are coming to town in february for a three show set at the salt shed!

lol!

[sentinel]

Originally Posted by Steely Dan

I just heard on the radio that "The French Alternative Meat Company" are coming to town in February for a three show set at the salt shed!

I mean, not gonna lie, I'd probably be into their music and check them out..