CHICAGO | General Discussions

[the urban politician]

^ Bill Gates is not residing here.

This is just a short term pad for his son. I’m guessing they will sell it once he completes his schooling.

[marothisu]

Yeah this is really not big news - actually the bigger news (which isn't saying much) is that his son is probably going to UChicago. Hopefully Bill becomes a donor or becomes involved somehow.

[Halsted & Villagio]

Originally Posted by the urban politician

^ Bill Gates is not residing here.

This is just a short term pad for his son. I’m guessing they will sell it once he completes his schooling.

Thats what I get for doing an all nighter while working on upcoming litigation... haa. I initially posted that at something like 2:45am EST (Tampa time) and my edits this morning did not help. Anyhow, "owns a home here" is more like it. Still, something realtors in my neighborhood will get mileage out of and certainly not deserving of your "Podunk, Mississippi" comment

[LouisVanDerWright]

Gates buying a mansion is just that, another wealthy parent making an investment for their kid while they attend a fancy school. It's a $1.5 million investment in the city, small potatoes.

The real news with that is that Gates is just the most visible person to buy in that area recently. Let's remember the previous president of the USA also owns property there. If anything it's evidence that the South Side can attract the big money just as well as Lincoln Pakr and that intitutions like U of C are huge positive forces for a city. Think of how many U of C students are in the same boat, hedge fund daddy wants kids to be comfortable while they get a better than ivy education...

Point being, this is a tiny investment by Gates, but if you assume even 1% of U of C students are in a similar boat, that's almost 150 mansions at any given time occupied or owned by 1%ers who want to pamper their kids while they are in school. In the aggregate that's a huge effect just from U of C, not even considering all the "lesser" educational institutions Chicago has. When I went to Loyola I knew tons of people whose parents bought then a gold coast condo or condo in Edgewater.

[the urban politician]

Bill Gates is so rich that he probably never once set foot in the house, and hardly was involved in the decision making.

He probably said, "Alfred, kindly accompany Junior to Chicago to locate a fitting property close to the University with adequate security, and once you find it bring forth a name to which our trustee Mr. Brumsfeld can issue a check". You know, that kind of thing...

[marothisu]

Originally Posted by the urban politician

Bill Gates is so rich that he probably never once set foot in the house, and hardly was involved in the decision making.

He probably said, "Alfred, kindly accompany Junior to Chicago to locate a fitting property close to the University with adequate security, and once you find it bring forth a name to which our trustee Mr. Brumsfeld can issue a check". You know, that kind of thing...

To be honest, I'm guessing Gates will be visiting his son at college sometimes. My cousin went to HS with him (and Paul Allen) and my cousin's wife knows part of his family. She actually attended the funeral service for his mom after her death at their mansion (which I'm told is an insane place). They told me he's a bit more down to earth than the majority of super rich dudes.

His kids are also not inheriting the majority of his vast fortune. I think his kids are all multi millionaires, but not super rich. He is a fan of actually making them work independently for their success instead of him just handing it to them. He's paying for their college, but he has expectations that they actually have their own careers

https://www.sfgate.com/mommyfiles/ar...a-10414373.php

"'It's not a favor to kids to have them have huge sums of wealth," he said. "It distorts anything they might do, creating their own path."

"Our kids will receive a great education and some money so they are never going to be poorly off but they'll go out and have their own career," he explained.

Anyway, based on what my cousin and his wife tell me, I'm fully expecting Gates to be visiting Hyde Park at least once a year for his son. I do agree that he probably didn't have anything to do with the house. I'll bet anything that it was all his son (seriously) who picked the property.

[left of center]

Originally Posted by marothisu

Yeah this is really not big news - actually the bigger news (which isn't saying much) is that his son is probably going to UChicago. Hopefully Bill becomes a donor or becomes involved somehow.

Gates has pledged to give most of his wealth away. Hopefully some of that lands at UC, as well as other institutions and social organizations in Chicago.

[marothisu]

Originally Posted by left of center

Gates has pledged to give most of his wealth away. Hopefully some of that lands at UC, as well as other institutions and social organizations in Chicago.

Read my last post ..

[bnk]

https://chicago.eater.com/2018/4/27/...s-chicago-2018


All The Public James Beard Award Events That Chicago Needs to Know About

by Kat Odell Apr 27, 2018, 12:00pm CDT



It’s almost time for the 2018 James Beard Foundation Awards, one of the culinary world’s most esteemed ceremonies which recognizes talent in all facets of the food industry, from front of house to back of house and beyond. Since the gala takes place on May 7 here in Chicago, a ton of outside talent is hitting the city for a few days before and after the awards, popping up with tastes of ethereal focaccia and sherry-laced painkillers. Below, all the parties, bar takeovers, and meals open the public,


...

[the urban politician]

Amazon, Amazon, are you seeing this?

[LouisVanDerWright]

Originally Posted by the urban politician

Amazon, Amazon, are you seeing this?

They are seeing the head tax bullshit in Seattle and the backasswards laws in Atlanta and Texas that's for sure...

[emathias]

Originally Posted by LouisVanDerWright

...
Point being, this is a tiny investment by Gates, but if you assume even 1% of U of C students are in a similar boat, that's almost 150 mansions at any given time occupied or owned by 1%ers who want to pamper their kids while they are in school. ...

By way of comparison data via The Crimson:

"17.1 percent of surveyed students at Harvard and 14.7 percent at Yale reported family incomes over $500,000."

For U of C:

"13.9 percent, of students having a family income of over $500,000 per year. On the other hand, 14.4 percent of eligible respondents reported a family income of less than $60,000. 17.6 percent of respondents were unsure of their family’s income. "

$500,000 is a bit under income required to be in the 1% by income, but would still likely afford such parents the ability to buy their children a home for use while at Chicago.

[left of center]

Originally Posted by LouisVanDerWright

They are seeing the head tax bullshit in Seattle and the backasswards laws in Atlanta and Texas that's for sure...

Hopefully that head tax in Seattle causes Amazon to consider the benefits of affording housing as a more important factor in their search (given they are actually searching, and they don't already have a location in mind). Chicago, with dozens of square miles of abandoned and underutilized neighborhoods, really would not have the same type of housing crunch that Seattle is experiencing with Amazon. Sure, prices will go up, but there will always be fringe neighborhoods getting redeveloped that will have cheap land and affordable rents.

[emathias]

Originally Posted by left of center

Hopefully that head tax in Seattle causes Amazon to consider the benefits of affording housing as a more important factor in their search (given they are actually searching, and they don't already have a location in mind). Chicago, with dozens of square miles of abandoned and underutilized neighborhoods, really would not have the same type of housing crunch that Seattle is experiencing with Amazon. Sure, prices will go up, but there will always be fringe neighborhoods getting redeveloped that will have cheap land and affordable rents.

You'd likely see prices go up downtown and in the traditional popular neighborhoods, and then those priced out would likely push into Douglas Park and Little Village and Bridgeport, McKinley Park, Brighton Park, and Gage Park faster than otherwise they might because those areas have existing housing that's relatively cheap and L access. Along those lines, Mayfair and Old Irving would also see faster price pressure.

If that did happen, hopefully there'd be pressure to complete the Orange Line to Ford City to serve West Lawn, and maybe renewed interest in Mid City Line along Cicero Ave. I do think Downtown needs additional rail, probably sooner than later, but if the City could figure out finances, each of those would have merit in a world where downtown increased professional jobs by 10-20% in a decade.

[the urban politician]

Originally Posted by left of center

Hopefully that head tax in Seattle causes Amazon to consider the benefits of affording housing as a more important factor in their search (given they are actually searching, and they don't already have a location in mind). Chicago, with dozens of square miles of abandoned and underutilized neighborhoods, really would not have the same type of housing crunch that Seattle is experiencing with Amazon. Sure, prices will go up, but there will always be fringe neighborhoods getting redeveloped that will have cheap land and affordable rents.

No, they need to be near DC and the “powerful” east coast where the movers and shakers are, and near “all that east coast talent” according to the east coast media

Because, after all, no huge, global companies were ever built within the nation’s interior....

I remember reading that on Amazon’s recent trip to Chicago, those buffoons repeatedly asked how Chicago will be able to attract talent from California. See the kind of ignorance we have to contend with?

My response would be, “fools, we don’t need a single person from California. We have all of, and even more than enough of, the skilled workforce with a pipeline into this city to fulfill Amazon’s needs. And you don’t have to pay them as much. We’ve had that for over a century and will have it for well over another century. Stop sayin stupid shit”.

But again, if you listen to the media it’s all about “gasp! How will this company succeed without Hahvad and Stanford? They will have no future”

This crapola gets old, the problem is that too many idiots are buying into it, including idiots with the means to make big decisions like the Amazon HQ2

[glowrock]

Originally Posted by the urban politician

No, they need to be near DC and the “powerful” east coast where the movers and shakers are, and near “all that east coast talent” according to the east coast media

Because, after all, no huge, global companies were ever built within the nation’s interior....

I remember reading that on Amazon’s recent trip to Chicago, those buffoons repeatedly asked how Chicago will be able to attract talent from California. See the kind of ignorance we have to contend with?

My response would be, “fools, we don’t need a single person from California. We have all of, and even more than enough of, the skilled workforce with a pipeline into this city to fulfill Amazon’s needs. And you don’t have to pay them as much. We’ve had that for over a century and will have it for well over another century. Stop sayin stupid shit”.

But again, if you listen to the media it’s all about “gasp! How will this company succeed without Hahvad and Stanford? They will have no future”

This crapola gets old, the problem is that too many idiots are buying into it, including idiots with the means to make big decisions like the Amazon HQ2

You forgot about the fact that anyone who even dares to move to Chicago has a 75% chance of being murdered in cold-blood on the street in front of their apartment/condo/home/whatever in the first month of their arrival, at least according to so many in the national news media!

I must be in the 25%, since I've now been here since mid-October and I haven't been murdered yet! Hahaha

Aaron (Glowrock)

[Baronvonellis]

Why does the Orange line need to go to Ford city? I just drove by there this weekend, it's just a typical suburban mall surrounded by big box stores and chain restaurants. I don't see how it's much of a destination.
The orange line already goes to Midway. Sure, maybe another stop in West Lawn would be nice, but not a huge priority for the city.

I'd rather have some good transit that goes crosstown from north to south that's not along the lake. Something to connect the northside, northwest, west, southwest, and southsides together to get across town! Some kind of outer loop, would really help!

[Kngkyle]

I'd like to see the Orange Line extended further West to Toyota Park.

[moorhosj]

Originally Posted by Baronvonellis

I'd rather have some good transit that goes crosstown from north to south that's not along the lake. Something to connect the northside, northwest, west, southwest, and southsides together to get across town! Some kind of outer loop, would really help!

And we already have the ROW along The Boulevard to make this possible. The Boulevard goes through a number of neighborhoods that could use the investment and connection.

[Vlajos]

Originally Posted by Kngkyle

I'd like to see the Orange Line extended further West to Toyota Park.

I really wish the Fire didn't play in Bridgeview. It's terrible getting out there.