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Business news, from Chicago’s largest corporations to local small businesses, including consumer watchdog reports and updates from industries like technology and retail.
About 40 vendors got a six-week extension Monday afternoon, but most already had packed up. “They waited until the last moment to tell us,” said Griselda Estrada, standing in the store where she’s worked nearly 30 years.
With an official groundbreaking Wednesday, infrastructure work will begin for the $4.3 billion Bronzeville Lakefront mixed-use project, called the largest ever in Chicago.
The proposals deemed eligible for city subsidies together call for more than 1,000 housing units, a third of them affordable, and more than $550 million in investment to address downtown vacancies.
Plans call for a $47.2 million building containing 63 units to be built at the southwest corner of Lake Street and Kedzie Avenue.
On $800 million in tax increases to pay for an array of new social programs, he told the City Club of Chicago, “I’m ready and willing to negotiate the details.”
Chipotle announced it was permanently closing its Augusta, Maine, location last year after workers filed a National Labor Relations Board petition for a union election.
The employee-owned company in Rogers Park is expanding and has 350 job openings.
Although Ford claims it has no intentions to carry through with the technology, the patent application shows how cars may one day lose their standing as the embodiment of American independence.
Despite high mortgage rates and a dearth of affordable starter houses, these families saw the upside of making the investment now.
About 40 vendors sued the property owner, seeking an injunction preventing their eviction. A judge on Friday denied their request, and those vendors now have to leave by Tuesday.
The center, backed by Facebook founder Mark Zuckerberg and wife Priscilla Chan, will research inflammation’s role in human diseases. Its funding includes $25 million in a capital grant from the state.
Laxman Narasimhan will spend half-day shift each month at one of the company’s 9,000 U.S. coffee shops to stay close to employees and customers.
TikTok CEO Shou Zi Chew faced hostile questions from Democrats, Republicans concerned about the company’s ties to China’s government, security, user data collection.
The first route is planned between the airport and the Illinois Medical District.
Tunney, chairman of the Council’s Zoning Committee, came close to joining the race after his longtime friend and political ally, U.S. Rep. Mike Quigley, D-Ill., took a pass.
Fed Chairman Jerome Powell seeks to reassure Americans that their money was safe after the failure of Silicon Valley Bank, Signature Bank as the Fed continues to fight inflation.
Senate Commerce Committee grills Norfolk Southern CEO on safety enhancements that can be implemented to prevent derailments like the one in East Palestine, Ohio.
He built his family a beautiful home on the South Side of the city and co-founded a business that provided steady employment so others could do the same.
Customs officials say two shipments from Thailand headed to U.S. addresses contained counterfeit jewelry, accessories. Sales of the items can fund criminal activity.
‘I need industry to help,’ find revenue other than property taxes, mayoral candidate Brandon Johnson tells Crain’s Chicago Business editorial board members.
The plaintiffs want a judge to issue an injunction and restraining order that would allow them to remain open until a judge determines whether it’s legal to shut down their businesses and seize their merchandise.
Mr. Gardner donated tens of thousands of dollars to causes that sought to end gun violence and helped create the nonprofit Black On Black Love.
Based on details of NASCAR deal and a newly released study of Lolla’s economic impact, commissioned by the festival’s organizers, the Lolla deal looks more advantageous for the city.
Some workers are seeking to join Council 31 of the American Federation of State, County and Municipal Employees, which has signed up members at other cultural institutions in Chicago.
WalletHub puts Illinois 36th among the 50 states in overall return on taxpayers’ investment, a ranking weighed down by its relatively high burden for property and sales taxes.
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