Real Estate Investors’ Risks Can Leave Renters Paying the Price

FROM THE PUBLISHER

The city of Chicago began rolling out a new 911 dispatch system Tuesday that officials say will help improve emergency response times.The new computer-aided dispatch system went live, despite pushback from aldermen who urged Mayor Brandon Johnson’s office to slow the implementation until they received assurances that the system was ready.In a letter sent to the mayor last week, 14 aldermen expressed concerns and requested additional information, saying significant questions about the system…

FROM THE PUBLISHER

Thousands of Chicago hotel workers could go on strike at any moment.Members of Unite Here Local 1 voted Monday night to authorize a strike; its current contract expired Aug. 31.“Tourism in Chicago is booming, all while inflation is increasing, and it’s affecting our hotel workers across the industry," Karen Kent, president of Unite Here Local 1, said in a statement issued by the union."They feel the weight anytime they go to the supermarket to buy food, or when they come home from work and are…

FROM THE PUBLISHER

Foundry Park, a developer’s $3 billion replacement for the failed Lincoln Yards mega-project on the North Side, moved closer to reality Tuesday over the objections of a powerful union.The City Council’s Finance Committee signed off on Mayor Brandon Johnson’s plan for a $201.6 million tax increment financing (TIF) subsidy that would pave the way for JDL Development to start construction of Phase One of the scaled-down project “before the end of the year.”It passed by voice vote, without a roll…