The Hardest-Working Paper in America | 
Tuesday, April 30, 2024

Chicago Enterprise

Chicago Enterprise is a weekly column about urban development trends and business decisions that shape the future of our region.

El Milagro employee Alfredo Benedetti speaks at a news conference July 20, 2023, at a rally outside a company location at 3050 W. 26th St.
Chicago Enterprise
El Milagro workers cite gains, but why is no union involved?
For all the labor activism in other sectors, organizing at the tortilla manufacturer can be a tall order.
By David Roeder
 
The Old Post Office on Friday, July 21, 2023, in Chicago.
Chicago Enterprise
Few winners, many losers as office building debt and vacancy worsen
The pandemic shook the office business down to its rebar, and 2023 could be the worst year yet.
By David Roeder
 
Richard Townsell, executive director of Lawndale Christian Development Corp., stands outside two model homes on the 1600 block of South Avers Avenue in North Lawndale, Friday, July 14, 2023.
Chicago Enterprise
North Lawndale housing development facing delays over city rules
City Hall promised to build 250 single-family homes, but higher costs and permit delays are holding back progress.
By David Roeder
 
1000M under construction at 1000 S. Michigan Ave. on Friday, July 7, 2023 in Chicago.
Chicago Enterprise
More rooms with a view coming to classic stretch of Michigan Avenue
A high-rise tower designed by the late Helmut Jahn is expected to welcome its first renters in 2024.
By David Roeder
 
Ed (left) and Ken Walchak, shown outside Clark-Devon Hardware at 6401 N. Clark St., are stepping aside from the business in favor of employee ownership.
Chicago Enterprise
Clark-Devon Hardware finds the tools it needs to persist
A family company for 99 years, the business is now employee owned. Former owners Ed and Ken Walchak hope the reorganization will reward employees and respect the legacy of what their family built.
By David Roeder
 
DaJuan Robinson of DNA Construction in the kitchen of a home he renovated at 6637 S. Marquette Road.
Chicago Enterprise
Bill could spring more Cook County properties from tax sale maze
A measure sent to the governor would let public agencies take action on vacant homes before they get lost in Cook County’s tax sale process.
By David Roeder
 
Rendering of the public plaza in front of the Merchandise Mart in downtown Chicago.
Chicago Enterprise
Merchandise Mart adjusts with the times but stays regal on the river
The landmark’s owner is wrapping up renovations designed to improve the building’s connections to the public and make it a more attractive place to work.
By David Roeder
 
Morningstar Chief Technology Officer James Rhodes.
Chicago Enterprise
Morningstar’s AI chatbot gets investors closer to mostly right answers
It’s a work in progress, but the company’s service called Mo draws on financial information to answer questions quickly without some of the worst traits technology picks up from humans.
By David Roeder
 
Woodfield Corporate Center, 425 and 475 N. Martingale Road, Schaumburg
Chicago Enterprise
Office, housing deals bode well for suburban growth
After years of slack office demand, investors are opting to either improve or redevelop their properties. Meanwhile, the supply of new housing could get a jolt from plans in Sugar Grove.
By David Roeder
 
Samir Mayekar (left), deputy mayor for economic development, joined Raul Raymondo, CEO of The Resurrection Project, at a February ribbon-cutting for an affordable housing project in Pilsen.
Chicago Enterprise
Lightfoot’s development czar reflects on 4-year fight for balanced growth
Samir Mayekar says business leaders have to view urban job creation as a sustainable business plan and not just philanthropy.
By David Roeder
 
Solar_panels_1.jpg
Business
Sky’s the limit for West Side training of solar panel technicians
Using space at the former school for St. Agatha Catholic Church, the Sustainability Hub is a venture between a developer and others to address workforce development and economic justice.
By David Roeder
 
The Walmart Supercenter at 83rd Street and Stewart Avenue closed April 16.
Chicago Enterprise
As Walmart pulls back, businesses and neighborhoods need to talk
The retailer’s closures of four Chicago stores follow the retreat of others from the city’s South and West sides and underscores how companies and communities often don’t get each other.
By David Roeder
 
A portion of the Wheatland Tube property on Chicago’s Southwest Side.
Chicago Enterprise
Warehouse demand brings attention to South Side properties
One proposal involves replacing the Wheatland Tube factory in Back of the Yards with a three-building logistics center covering more than 30 acres.
By David Roeder
 
The downtown skyline as seen from a rooftop in the South Loop. With the economic heart of the city ailing, part of the tax burden it carries could shift to the neighborhoods.
Chicago Enterprise
Downtown’s doldrums will soon land in Mayor-elect Johnson’s lap
He will confront stubbornly high commercial vacancies and a slow return to office work, along with economic worries that make banks less willing or able to help.
By David Roeder
 
A rendering of a data center planned at 21st Street and Calumet Avenue.
Chicago Enterprise
Data centers keep coming, but not all deals will compute
After a record year for leasing in the sector, three sites in Chicago have varying chances of success. Proximity to ComEd substations is a major factor.
By David Roeder
 
A welder at work at S&C Electric in Rogers Park.
Chicago Enterprise
At S&C Electric, keeping the grid in good order is empowering
The employee-owned company in Rogers Park is expanding and has 350 job openings.
By David Roeder
 
A rendering of IBT Group’s proposal for 1769 W. Pershing Road, showing its rooftop park.
Chicago Enterprise
3 groups vie to revive a chunk of Chicago’s industrial legacy
Proposals being evaluated by local groups and the Department of Planning and Development would introduce new uses to the old Central Manufacturing District on Pershing Road.
By David Roeder
 
The 34-unit building called The Seng has been completed at 869 W. Blackhawk St. An apartment tower is going up behind it.
Chicago Enterprise
Near North Side condos aim to put home ownership in easier reach
The Seng, a building completed near North and Clybourn avenues, is being marketed to working families who find other starter homes beyond their budgets.
By David Roeder
 
Jacob Younan, a professional esports player, trains in Vernon Hills. 
Chicago Enterprise
Reality intrudes on plans for esports gaming centers in, near downtown
A plan for a $30 million arena near McCormick Place for virtual contests has been scrapped, while prospects have dimmed for a proposal to put esports and student housing in the Loop.
By David Roeder
 
An example of infill housing proposed in Denver by the firm Productora, one of the entrants in Chicago Architecture Center’s design competition.
Chicago Enterprise
Design contest invites architects’ best ideas for housing on the South, West sides
The Chicago Architecture Center’s Come Home Initiative aims to build momentum for investments in the South and West sides.
By David Roeder
 
A rendering of town homes planned at the Bells Works Chicagoland site in Hoffman Estates.
Chicago Enterprise
Hoffman Estates project reaches for a Lincoln Park vibe
Bell Works Chicagoland, a reimagining of a former AT&T site, will add residences to the office development in hopes of creating a community hub.
By David Roeder
 
Demonstrators protest outside the Chicago Board of Trade Building in 2015, calling for a tax on stock and futures trading.
Chicago Enterprise
The tax that won’t die — and other revenue plans — surface in city election
Seeking influence in ward races is a group, United Working Families, that has argued for tax hikes that target the rich but could chase businesses and suburbanites from the city.
By David Roeder
 
A rendering of the building planned at 1002 S. Racine Ave.
Chicago Enterprise
Roosevelt Square applies fresh approach to ‘hallowed ground’ of public housing
The $172 million development phase on the old ABLA Homes site continues a vision of improving a neighborhood by adding mixed-income housing and other amenities.
By David Roeder
 
The 320 S. Canal St. building opened in 2022 and has drawn BMO Harris Bank and other large tenants.
Chicago Enterprise
Inside a slow downtown office market are pockets of corporate demand
Experts say there’s a clear split between “have” and “have-not” buildings as big companies favor modern space heavy on amenities.
By David Roeder
 
Mayor Lori Lightfoot participates in the planting of the 18,000th tree as part of Our Roots Chicago, the city’s tree equity initiative, in Chicago’s Chinatown neighborhood; December 2022.
Chicago Enterprise
High-minded high finance: City sells bonds to the masses
Chicago’s ‘social bond’ program lets residents invest in neighborhood improvements for as little as $1,000.
By David Roeder
 
The Chicago Tribune printing plant, the city’s choice for a Bally’s casino. The stretch along the North Branch of the Chicago River is the city’s next corridor for growth.
Chicago Enterprise
For city’s next growth spurt, follow the money to north-northwest corridor
The city touts its Invest South/West initiative, but the real action is on the other side of town.
By David Roeder
 
Erin Biggs protests during union picketing outside a Starbucks at 5964 N. Ridge Ave. in August.
Chicago Enterprise
Unionized Starbucks baristas need more than enthusiasm
Voting for a union is one thing; achieving a contract is quite another if the employer is in no hurry to begin bargaining.
By David Roeder
 
Witnesses testify in May to the House Agriculture Committee. They are (from right) Terrence Duffy, chairman of CME Group; Sam Bankman-Fried, CEO of cryptocurrency exchange FTX; Christopher Edmonds, chief development officer at Intercontinental Exchange; and Christopher Perkins, president of investment firm CoinFund.
Chicago Enterprise
‘I said you’re a fraud.’ CME Group’s boss spotted early trouble at crypto exchange FTX
Terrence Duffy, chairman of Chicago-based exchange owner CME Group, said his meeting with Sam Bankman-Fried showed FTX had no plan to prevent trading calamities that could have spread across the financial system.
By David Roeder
 
A rendering of the building planned for 130 N. Franklin St.
Chicago Enterprise
The Crowns hold out for a jewel on vacant downtown property
New plans floated for 130 N. Franklin St. maximize sun exposure for office dwellers who remain nervous about the pandemic, but a tenant still needs to sign on.
By David Roeder
 
Rendering of the new Ryan Field.
Chicago Enterprise
Battle over Ryan Field in Evanston could be a seminar for the Bears
Northwestern University is trying to win over neighbors with plans to bring concerts to the home of the Wildcats.
By David Roeder
 
More Stories
Latest Stories
White Sox' mental performance coach helps players find balance, strive for consistency
Twins' eighth straight win halts White Sox' streak at 3
1st-and-10: Shane Waldron, your table is ready
Cubs' Jameson Taillon matches Mets' Luis Severino in fierce pitching battle: 'I love pitching in New York'
FBI seeking suspect in Skokie bank robbery