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  #1461  
Old Posted: Apr 17, 2012, 8:34 PM
lawfin lawfin is offline
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http://www.suntimes.com/news/watchdo...ng-garage.html

Chicago faces $200 million claim over Aqua parking garage
BY DAN MIHALOPOULOS & CHRIS FUSCO Staff Reporters dmihalopolous@suntimes.com April 16, 2012 12:44AM
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City Hall faces a $200 million arbitration claim by the private investors who took over four city-owned parking garages in downtown Chicag for allowing this competing parking garage to open at the Aqua building, 225 N. Columbus Dr. | Rich Hein~Sun-Times
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Updated: April 17, 2012 8:31AM

Under the $563 million, 99-year deal that privatized four city-owned parking garages in downtown Chicago, City Hall made a promise:

It wouldn’t allow any parking facilities to open nearby.

That was six years ago, under then-Mayor Richard M. Daley.

Today, though, you can park just a block away in a new garage at the 82-story Aqua building — and it’s cheaper, too.
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  #1462  
Old Posted: Apr 17, 2012, 8:54 PM
Nowhereman1280 Nowhereman1280 is offline
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I though cinespace was on 15th? Is the studio moving? Or is lagunitas taking empty space
The Ryerson Plant is huge. Again, we've been representing them on this and were involved with this deal as well as Cinespace. They are taking the southern section of the plant while Cinnespce is in the more northernly section.

The interesting point here is what it means for Douglas Park. A critical mass of higher-end job sources and now even an entertainment venue are now right next to each other and only 4 blocks from the EL and two blocks from the Metra. This raises the question of whether this is enough to trigger gentrification in the area as people begin traveling there for work from other parts of the city. If Cinespace ends up taking the full extent of the space they've considered, you could rapidly see this area start redeveloping.

I, for one, am considering snagging some properties along the edge of the park.

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Originally Posted by OrdoSeclorum View Post
French company moving its U.S. headquarters from Virginia to Illinois

http://www.chicagobusiness.com/artic...se-to-illinois
We were in the running to land them as tenants in our building near O'Hare. They are looking for 30,000 SF immeidately with expansion to 45,000 SF in a year. This is part of a larger trend of the O'Hare office market firming up.
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  #1463  
Old Posted: Apr 17, 2012, 10:50 PM
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Well it's their fault for bringing this to attention: I had no idea you could park at Aqua AND its cheaper! I don't think anyone I know knows that you can park at Aqua. Well sorry Millennium Park Garage, you will no longer have my $30 a trip downtown.
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  #1464  
Old Posted: Apr 18, 2012, 3:01 AM
the urban politician the urban politician is offline
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I, for one, am considering snagging some properties along the edge of the park.
^ Don't get too eager to buy property in the big chunk of Chicago which is in free fall. Chicago lost 33,600 people since the census count of 2010.

Looks like Chicago continues its downward spiral into oblivion, population-wise, and yet STILL not a peep from any of the city's leaders as to the crisis taking place from under their noses--an ever-shrinking city with no end in sight. Perhaps when all the black & hispanic people have left, Chicago will consist of a downtown & northside that resemble San Francisco surrounded by miles and miles of empty slums. By 2020 we'll be at 2.3 million, and just after that Chicago will be at less than 10,000 people per square mile, and I will certainly have long since bailed out of this region--I have spent years defending Chicago and having hope, but without some signs of a turnaround I can't keep exhausting energy convincing my relatives (most of which live on the coasts) why I have staked my flag here.

http://www.bizjournals.com/mobile/mi...ation-new.html

I'm sure the NATO summit will fix this, though
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  #1465  
Old Posted: Apr 18, 2012, 3:09 AM
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^ Don't get too eager to buy property in the big chunk of Chicago which is in free fall. Chicago lost 33,600 people since the census count of 2010.

Looks like Chicago continues its downward spiral into oblivion, population-wise, and yet STILL not a peep from any of the city's leaders as to the crisis taking place from under their noses--an ever-shrinking city with no end in sight. Perhaps when all the black & hispanic people have left, Chicago will consist of a downtown & northside that resemble San Francisco surrounded by miles and miles of empty slums.

http://www.bizjournals.com/mobile/mi...ation-new.html

I'm sure the NATO summit will fix this, though
Something's wonky with that site's projections though. For example, they say New Orleans has lost another 28,000 people in two years since the Census -- even as the Census estimates that NOLA gained 13,000 by July 2011. Likewise the Bureau estimates that DC gained 17,000 people in a little over a year, while that site has DC gaining a mere 8,000 in twice the time. Fulton County, Georgia is growing faster than it has in decades, but Atlanta is still losing people? I know the situation in far too much of Chicago is far too grim, but I'd rather wait on the Census Bureau's estimates for cities in July. I don't quite trust that site.

Ah: based on demographic trends since 2000. I'd say that significantly more of Chicago is stabilized now versus 2000. If I had to say, I'd predict we'd be either even or a small (under 10,000) dip when the city estimates come out in July.
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Last edited by Dralcoffin; Apr 18, 2012 at 3:19 AM.
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  #1466  
Old Posted: Apr 18, 2012, 3:11 AM
the urban politician the urban politician is offline
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Originally Posted by Dralcoffin View Post
Something's wonky with that site's projections though. For example, they say New Orleans has lost another 28,000 people in two years since the Census -- even as the Census estimates that NOLA gained 13,000 since 2010. I know the situation in far too much of Chicago is far too grim, but I'd rather wait on the Census Bureau's estimates for cities in July. I don't quite trust that site.
^ Sorry, but I"m done with this excuse.

It's not about the count being wrong.

It's about EVERY count showing that the city is disappearing, and it's disappearing fast.

This is a crisis. And nobody in the city's leadership is acknowledging it.

The city of big shoulders is basically dying. I am finally going to say it. And I'm perhaps one of the biggest Chicago boosters on this forum.
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  #1467  
Old Posted: Apr 18, 2012, 3:18 AM
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A city doesn't die until its boosters give up. Want to see a dying city? Detroit's that way. Chicago still has the most vibrant urban neighborhoods between the coasts, and I still am planning to make a beeline for the Windy City after school to play whatever part I will have to keeping this city vibrant. Yes, the city has problems. But I'm optimistic that the next ten years will see progress made on those issues. Chicago will endure.
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  #1468  
Old Posted: Apr 18, 2012, 3:26 AM
the urban politician the urban politician is offline
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Originally Posted by Dralcoffin View Post
A city doesn't die until its boosters give up. Want to see a dying city? Detroit's that way. Chicago still has the most vibrant urban neighborhoods between the coasts, and I still am planning to make a beeline for the Windy City after school to play whatever part I will have to keeping this city vibrant. Yes, the city has problems. But I'm optimistic that the next ten years will see progress made on those issues. Chicago will endure.
^ Chicago's model isn't working.

That's my problem.

The tools it is using to rebuild itself are not going to turn things around.

There is not enough wealth in Chicagoland (or the desire for city-living) for gentrification alone to turn these dying areas around. If you can't turn Uptown around, how are you going to save Lawndale?

Black people don't see any reason to stay. They are leaving. But the neighborhoods they are leaving behind aren't being taken over by any other ethnic groups, at least so far.

And why should they be? Demand here isn't like it is in New York. People aren't willing to give an arm and a leg to have a 500 square foot space in this city.

Chicago's sheer size is an anacronysm. It is a city that is meant to have a huge industrial base. And since it doesn't, and never again will, it needs to shrink & cut its losses. That is at least one of many steps that I believe should be taken. This is in addition to cutting regulations, cutting fees, relaxing its building code (in struggling parts of the city at least), and eliminating public housing.
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  #1469  
Old Posted: Apr 18, 2012, 3:39 AM
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I would like to interrupt this rant with a bit of good news: Chicago's industrial export sector is booming, outpacing most of the other top metros in growth:

Impressive growth in Chicago's manufacturing exports

Another recent Brookings study5 examined the impact of exports on U.S. metropolitan areas. MSAs with higher manufacturing concentrations enjoy higher patenting rates per capita, and manufacturing tends to have a higher multiplier effect (the impact of wages and jobs on the larger economy) than other, less production-intensive industries. As a result, a dynamic manufacturing sector can make significant contributions to an MSA's economy.

Chicago's leading manufacturing industries also experienced some of the highest growth. Machinery and chemicals had the fifth and eighth highest growth rates from 2009 to 2010 out of 34 industries examined in the Brookings' study―20.9 percent and 17.2 percent, respectively. In addition, primary metals manufacturing is Chicago's fifth-largest export industry, with $3.6 billion in exports in 2010 and growth of 11.3 percent. The Chicago MSA also saw large positive growth rates in fabricated metal products, transportation equipment, plastics and rubber products and electrical equipment.
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  #1470  
Old Posted: Apr 18, 2012, 3:39 AM
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^ Sorry, but I"m done with this excuse.

The city of big shoulders is basically dying. I am finally going to say it. And I'm perhaps one of the biggest Chicago boosters on this forum.

C'mon dude.... dying? I mean, I know this data upsets you. It's doesn't make me happy. But I wouldn't come close to saying Chicago is dying. However, I agree that it is a tale of two cities, with the poorer neighborhoods emptying out.
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  #1471  
Old Posted: Apr 18, 2012, 4:32 AM
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Where are these people going? Are they leaving the state? Are they moving to the suburbs, because they're sure not going to inner ring suburbs (the Franklin Parks, the Brookfields, the Blue Islands, the Elmhursts) and I would think that unless their situation has drastically improved I would think further out suburbs would be a bit out of price range.

The main thing it comes down to is education opportunities. Chicago's schools are among the worst in the nation (I saw a list somewhere that had like 6 of the top 20 in Chicago) Here is a list of the states worst schools: http://www.schooldigger.com/go/IL/sc...ttom10&level=3
Chicago schools are at the bottom along with East St. Louis; If Chicago schools were better, there wouldn't be this flight but this really opens up a whole new can of worms.

On the plus side, Northside Prep and Walter Payton Prep were nos. 2 and 3 on the list of best schools in america
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  #1472  
Old Posted: Apr 18, 2012, 5:46 AM
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^ Sorry, but I"m done with this excuse.

It's not about the count being wrong.

It's about EVERY count showing that the city is disappearing, and it's disappearing fast.

This is a crisis. And nobody in the city's leadership is acknowledging it.

The city of big shoulders is basically dying. I am finally going to say it. And I'm perhaps one of the biggest Chicago boosters on this forum.
Every count, TUP? Because, according to these official estimates by the Census Bureau (note that your estimates are unofficial and commissioned by BizJournals.com), there is cause for optimism.

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Originally Posted by Dralcoffin View Post
Cook County's population is growing, according to the county population estimates released today, gaining 17,000 people in a year.

National rank...County...2010 Census....July 1, 2010....July 1, 2011
2.....Cook County, IL......5,194,675......5,199,971.......5,217,080
52....DuPage County, IL...916,924........917,942........923,222
84....Lake County, IL.......703,462........704,492........706,222
89....Will County, IL.........677,560........678,873........681,545

The CSA as a whole is now estimated at 9,729,825, a growth of 32,000 in a year. (So a little over half of the population growth in the area occurred in Cook County.)
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  #1473  
Old Posted: Apr 18, 2012, 12:34 PM
the urban politician the urban politician is offline
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C'mon dude.... dying? I mean, I know this data upsets you. It's doesn't make me happy. But I wouldn't come close to saying Chicago is dying. However, I agree that it is a tale of two cities, with the poorer neighborhoods emptying out.
^ At this point, I'd use the word "dying".

Unless the city's leadership gets on the ball and treats the data as what it really is, instead of keeping their heads in the clouds, Chicago will continue to go down the drain.

You cannot and will not have a successful city when 60% of your city by land area is simply fading into oblivion.

Chicago touts itself as the "innovator" in privatization schemes, but what is the real reason that this city is far ahead of everybody else with this concept? No tax dollars! We can't build or maintain our infrastructure because we can't afford it. Lease off the parking meters, now the garages, then Midway, then the "infrastructure bank". What next? We're already creating a new "tax" with the speeding camera debacle, we have the highest sales tax rate in the country, and we just recently increased the State's income tax rate.

Grow your tax base by growing your population. That should be the number one focus right now. Nobody seems to be having this discussion among the "higher ups" (at least as far as I've seen), which is to Chicago's detriment.


Quote:
Originally Posted by Ch.G, Ch.G
Every count, TUP? Because, according to these official estimates by the Census Bureau (note that your estimates are unofficial and commissioned by BizJournals.com), there is cause for optimism.
^ Cook county's growing may not have anything to do with Chicago. It's possible that all the growth occurred in the suburbs, to Chicago's expense. That's the same old story we've seen for decades
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  #1474  
Old Posted: Apr 18, 2012, 1:07 PM
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A population decline on a similar percentage to Chicago hasn't crippled the likes of Washington, Boston, Minneapolis or St. Paul, Seattle and San Francisco in the 70s/80s, etc, all down by 20% or 30%. Pittsburgh is dealing with much more severe depopulation, but has weathered it quite well by diversifying much as Chicago has. Even Indianapolis, Kansas City, and Columbus, among the few Midwestern cities to show consistent growth in the city limits, achieved it only by annexing nearly their entire counties. Even taking the harsh new estimates into account, Chicago is down 26.5% from 1950, far better than any other old industrial city in the area.

Philadelphia in terms of density and percentage decline since 1950 is very similar to Chicago, and while it has turned its decline around for good, Philly is dealing with the same vast areas simply crumbling away, while the suburbs sprawl ever more. But Philly has reached a level of gentrification in its inner core that means its population is growing once more. I don't think Chicago is that far from a similar population stabilization. With the vast ghettos finally emptying out and a rather puzzling slight dip in most of the gentrified areas, the city still lost only 1 in 20 Chicagoans last decade, and even these estimates are a slower rate than that. Chicago is far from dealing with a St. Louis or Clevelandesque population bust.

Is this still a painful readjustment process for Chicago? Of course. Of the big three in the 1950s (New York, Chicago, Philadelphia) Chicago had a far bigger industrial base to lose, and there will be areas that will not be redeveloped in my lifetime. Is the city short on money for infrastructure? Of course. Even New York City is having to squeeze pennies in this recession. But Chicago is in no way dying a slow death by a thousand cuts. It is stagnating in some demographic and economic ways, but not collapsing.
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  #1475  
Old Posted: Apr 18, 2012, 3:46 PM
OrdoSeclorum OrdoSeclorum is offline
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^ Sorry, but I"m done with this excuse.

It's not about the count being wrong.

It's about EVERY count showing that the city is disappearing, and it's disappearing fast.

This is a crisis. And nobody in the city's leadership is acknowledging it.

The city of big shoulders is basically dying. I am finally going to say it. And I'm perhaps one of the biggest Chicago boosters on this forum.
This is basically nonsense. Chicago isn't "emptying out fast" and it isn't "dying" and no count or projection shows the city to be "dissapearing."

I'm sure you've read this three part series in the reader, but you should revisit it: http://chicago.straightdope.com/sdccensus1.php (part three offers the most insight)

In the last 10 years, the income per capita in the core area has about doubled while it's also been one of the fastest growing communities of over 100,000 people in the country. Communities adjacent to the core on the west and south sides have seen rapid and marked and continued improvements. The entire lakefront, north and south, is trending in a positive direction. Established areas that have lost density have lost it due yuppies living alone and SFHs replacing multiunits.

The Northwest side, along the Blue line is rapidly improving. The city is losing ethnic white population due to demographic trends--old Poles and Germans are dying or retiring to Florida, as ever--while recent college grads move here at a clip that most other cities are gagging for. Chicago built 200 high rises in the last 12 years and it isn't over built. There's solid demand for more rental space and more office space. Schools are dramatically improved and improving--there are now dozens of excellent public options--and more middle-class children are being raised here than in a generation and a half.

TUP, you are emotionally invested and are having manic feelings about relative rates of improvement. Chicago is awesome and it's getting better. You want it to be the most awesomest at everything and it's not going to happen. The U.S. is the Roman empire and New York is Rome. San Francisco is the capital of the hottest industry in a generation. Houston and Phoenix are growing fast and are going to keep growing fast. Washington DC will always have government jobs. Some places can be as great as Chicago and Chicago will still be great. Places that are base-rotten, like Charlotte or Dallas, can improve at a rapid clip for a generation while Pittsburgh stagnates and will still never have half of Pittsburgh's quality.

Boston and Seattle and San Francisco are nice little cities; good luck to them. If size is all that matters, once they triple in size they will be as big as Chicago. I hope that someday Washington DC has half as much cool stuff as any of them, as I'd love to see more great urban areas in the U.S. Houston and Phoenix are two of the crummiest places to live on the continent. They aren't cold, but the weather sucks. Houston, especially, is benefiting from oil prices and is still equilibrating positively post-NAFTA. Houston may benefit from those trends for another 20-years, but it will still be hellish and ugly and full of chain restaurants.

It used to be everything was made in Chicago, because it had to be. That's not true anymore and a big part of the city has lost its reason for existence. Parts of southern Wisconsin and Michigan, Northern Ohio; Western PA and NY have the same problem. That's not something that's going to change. The large parts of Chicago that are poor and black are not doing well and there's no sign that that is going to change soon. If there was an easy fix, someone would have done it. It's open for investment right now, but no one is going to really invest in Englewood for a long time. People that can leave those communities are going to continue to do so and it is going to affect the city's population figures. So what? No one wants Chicago to shrink, but your unstated major premise is that a little growth is fantastic and a little shrinkage is disastrous is simply untrue and, just as importantly, unsupported. Phoenix's and Houston's growth has not improved the conditions for its residents; they are worse. Pittsburgh or DC's shrinkage has not made things worse; it is markedly better in those cities recently.

You can do a thought experiment to prove this to yourself. Let's say that Chicago had just undergone a five-year boom. Population went up by 250,000 and incomes rose 20%. The core is full of additional infill. International tourists flock here for cultural attractions and more of the west and south sides have become gentrified. You're happy. Now Chicago annexes Gary and Hammond and then everyone subsequently flees those communities for five years. During the next census and incomes and population look to be about flat. Was the boom not real? Is the city not a better place? Why would real improvement in the central area be discounted because of problems across some arbitrarily drawn line?

Chicago has a lot going for it that isn't going away. Its surrounded by incredibly productive land, unlike say Charlotte or Atlanta or Dallas. It has unlimited water resources, better than any other city in the world. It's the center of the second largest region on the continent, by population. The U.S. is the world's largest economy and it has infrastructure connectivity to that economy far better than any other city. Chicago has an enviable urban form, excellent transit and walkability and the only airport in the U.S. that's really capable of significant expansion. Chicago has hundreds of thousands of college students and two of the best universities in the world. Besides the Loop, there is only one other place in the hemisphere where a business can locate and access a talent pool of 10,000,000. Being in a bad mood doesn't change those things.
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  #1476  
Old Posted: Apr 18, 2012, 5:38 PM
the urban politician the urban politician is offline
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^ Ordo,

I appreciate the "cheering up" but casting this off as having my having a bad day is really minimizing the serious problems Chicago is facing. You say I'm emotionally invested--well of course I am. Who isn't? If you don't care about the city then why would you visit these forums? But just because that is the case doesn't mean I can't be objective.

What I am trying to say is that my feelings about Chicago's prospects are beginning to fall in line more with Aaron Renn or (sigh..) Joe Zekas. The "good part" of Chicago is doing fine. But that is simply not enough.

Chicago is different than Boston, DC, or SF, in that it is a complete city, not just a boutiquey city full of college grads and millionaires. A big, huge part of Chicago's identity, or its soul, is its blue collar neighborhoods. And those areas are not only declining, they are simply vanishing. Chicago's population decline from 2000-2010 was largely attributed to black flight, not so much shrinking household sizes. That population decline continues unabated.

You cannot have a successful Chicago without saving these neighborhoods.

Long term, I agree that Chicago has enormous assets to its advantage. But medium term, pessimism is the order of the day.
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  #1477  
Old Posted: Apr 18, 2012, 5:48 PM
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^ At this point, I'd use the word "dying".

Unless the city's leadership gets on the ball and treats the data as what it really is, instead of keeping their heads in the clouds, Chicago will continue to go down the drain.

You cannot and will not have a successful city when 60% of your city by land area is simply fading into oblivion.
Sorry, but I have to strongly disagree with you on this point.

It's true that much of the impoverished outer neighborhoods are in bad shape, and continue to hemorrhage population. And you can't blame people for leaving. But it's impossible to deny that the central core of the city is surviving and thriving. I know everyone on this forum absolutely know this. I'm just restating it to cheer you up a bit.

Honestly, even though the city has lost a substantial portion of it's population in my lifetime, I think downtown Chicago is much more vibrant and interesting than when I was growing up in the 70's and 80's. Decades ago (when the city was more populated), Rush street was seedy, and hardly the nice street it is today. Going to Blackhawks games in the 80's was a feat of courage; you almost felt like you needed a bulletproof vest to feel better about being in the neighborhood. I always sunk down in my seat a bit when cab drivers would decided to cut through Cabrini Green. There was no Millennium park. Navy Pier was certainly not a draw for out of town families like it is today. Lincoln Park and Lakeview were decent neighborhoods, but Bucktown and Wicker Park were hardly a big deal. To contrast that with today, my cousin just bought a house in Bucktown for around 1.4M. Would that have happened decades ago (adjusting for inflation)? No. There was no Southloop or Westloop to speak of (at least not in the vibrant form it is today). If I were to grab myself in 1983, and travel in a time machine today, I wouldn't recognize downtown Chicago, and I'd never believe the city was losing population.

The last census showed that even though the city lost population, the central area nearly doubled in population. Unfortunately, it wasn't enough to stem the huge outmigration of minorities and immigrants from impoverished neighborhoods. And with the city not being a huge international driving force like NY, London, Tokyo, or have an unprecedented lifestyle image like LA, the population loss will continue to happen. But not indefinitely. The question is, when will it stabilize, and start to grow again? Obviously, none of us know. I will admit, I was a little surprised at the prior posts about a gain in Cook county, as I thought we'd continue losing population for the foreseeable future. But as it turns out, all the growth must have happened outside of the city. It may take decades before the city population is in the up column again.
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  #1478  
Old Posted: Apr 18, 2012, 7:00 PM
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More interruptions for tidbits of good news:

1. The Tribeca Flashpoint Academy downtown is planning to nearly double its space and enrollment.

2. Good read:

How Chicago Is Becoming More Viable for Tech Startups
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  #1479  
Old Posted: Apr 18, 2012, 9:00 PM
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I would like to interrupt this rant with a bit of good news: Chicago's industrial export sector is booming, outpacing most of the other top metros in growth:

Impressive growth in Chicago's manufacturing exports

Another recent Brookings study5 examined the impact of exports on U.S. metropolitan areas. MSAs with higher manufacturing concentrations enjoy higher patenting rates per capita, and manufacturing tends to have a higher multiplier effect (the impact of wages and jobs on the larger economy) than other, less production-intensive industries. As a result, a dynamic manufacturing sector can make significant contributions to an MSA's economy.

Chicago's leading manufacturing industries also experienced some of the highest growth. Machinery and chemicals had the fifth and eighth highest growth rates from 2009 to 2010 out of 34 industries examined in the Brookings' study―20.9 percent and 17.2 percent, respectively. In addition, primary metals manufacturing is Chicago's fifth-largest export industry, with $3.6 billion in exports in 2010 and growth of 11.3 percent. The Chicago MSA also saw large positive growth rates in fabricated metal products, transportation equipment, plastics and rubber products and electrical equipment.
TUP, this is exactly why I'm not going to address anything else you said. Chicago is growing where it counts and doing it fast. Your mood on Chicago has seemed extremely bipolar lately with you rejoicing over the huge swath of NEW urban fabric on the NW side a week ago interrupting what a glum interpretations of population data.

Let me put it this way, the city is clearly not dying. It is growing in key areas and once dilapidated areas (Pilsen, Bronzeville, Logan Sqaure (not to start that fight again), Avondale, Humbolt Park, etc) are showing shoots of new growth. Chicago hasn't seen revitialzation on this scale for nearly 100 years. Think about it. When was the last time Chicago saw huge swaths of the city (outside of brand new areas on it's fringes) seeing widespread reinvestment? Probably the 1920's.

So what you are seeing as continuing decline, I see as more of an indication of the pace of change picking up. All these people leaving are essentially de-segregating huge portions of the city. What happens when a 100% black area like Lawndale loses 50% of it's black population? Areas like Little Village spread and it becomes 50/50 black and hispanic. Once that starts happening it's only a matter of time before the hipsters follow seeking out an area that isn't 100% black, but still somewhat ghetto where they can get street cred, but also not be terrified of being the only white person for a mile. So sure, the population is dropping, but it's more of a sign of an impending demographic shift as a third race increases its prescense in the city and helps to break the age old duopoly of white vs black that has plagued our city for a century.

Finally, you just posted my point. Chicago's industry is recovering and doing it fast. Yet the US dollar is more over valued than it has been in 10 years. What happens when the dollar drops 20% and Chicago's goods become 20% cheaper for the rest of the world to buy? The boom we are seeing right now will only be amped up.

Additionally, I think you underestimate how huge the results of this Ryerson Redeveloment is. This is the first time in history that while collar jobs like that have sprung up on the south side. Think about it. Basically the last time there were new "white collar" jobs being added south of Roosevelt was during the World's Fair. And now you have a massive film studio and a massive brewery popping up over the course of two years? I spoke to the broker who worked on this in our office and he said that Lagunitas specifically chose this saying "the location is perfect as we'll be right next to a huge film studio". Economies of agglomeration right there. I also know a lot of people involved in these deals are buying up property in the area right now in anticipation of more redevelopment. In fact, there may or may not be other similar tenants interested in setting up shop in the remaining buildings. Remember that this is just one of the hulking buildings left over from Ryerson. There are still millions of square feet just waiting to attract similar uses.

Frankly I don't think things have been looking up for the South Side more since the World's Fair. Sure, a lot of damage has been done, but things are happening that haven't for a hundred years...
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Old Posted: Apr 18, 2012, 10:04 PM
the urban politician the urban politician is offline
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^ A bit optimistic. Chicago has certainly seen a lot of widespread investment "since the 1920's". In addition, there have been white collar jobs south of Roosevelt. Hyde Park is one example, and has been one for quite a long time.
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