News

Buttigieg Supports Major Transportation Grants, Biden Unveils Pandemic Strategy, Dollar General Expa

Buttigieg Supports Major Transportation Grants, Biden Unveils Pandemic Strategy, Dollar General Expands New ConceptWhat You Need to Know to Start Your Day President Biden walking through the U.S. Capitol with First Lady Jill Biden on Inauguration Day before signing a slew of executive orders on his first day. (Getty) By Richard Lawson CoStar News Buttigieg Supports Major Transportation Grants During a congenial Senate confirmation hearing Thursday, Transportation Secretary nominee Pete Buttigieg

U.S. Hotels Suffered Worst Year Ever with Nearly Zero Profit

Spencer Platt/Getty ImagesPROPERTY TYPES>LODGING & HOTEL  U.S. Hotels Suffered Worst Year Ever with Nearly Zero Profit   Occupancy for U.S. hotels averaged 44 percent in 2020, the lowest number on record, according to STR. Bloomberg   Hotel occupancy was just 44% for the year, down from 66% in 2019 and the lowest number on record, according to data provider STR. The industry passed 1 billion unsold rooms for the first time in history, topping the previous record of 786 million in

Pritzker Administration Invests Over $3 Million to Boost Equity and Access for More Illinois Businesses Seeking PPP and Federal Assistance Programs

Governor JB Pritzker has announced new investments by the State of Illinois to help more small businesses access a new round of federal COVID-19 emergency programs. The Illinois Department of Commerce and Economic Opportunity (DCEO) will direct a $3.4 million investment to expand community navigator outreach programs and technical assistance services provided through the State’s Small Business Development Centers (SBDCs). These investments are designed to help more businesses take advantage of billions of

Pritzker Administration Invests Over $3 Million to Boost Equity and Access

    Pritzker Administration Invests Over $3 Million to Boost Equity and Access for More Illinois Businesses Seeking PPP and Federal Assistance Programs    Governor JB Pritzker has announced new investments by the State of Illinois to help more small businesses access a new round of federal COVID-19 emergency programs. The Illinois Department of Commerce and Economic Opportunity (DCEO) will direct a $3.4 million investment to

Governor Pritzker Announces Initial Launch of Phase 1B of the COVID-19 Vaccine Administration Plan

Governor Pritzker Announces Initial Launch of Phase 1B of the COVID-19 Vaccine Administration PlanWhile Federal Distribution Remains Limited, State Builds Out Provider Infrastructure to Ensure Efficient and Equitable Distribution When Allocations Increase; Updated Sports Guidance is Released, Expanding Level of Play for All Sports Under Phase 4 of Restore Illinois Plan CHICAGO — Building on the state’s progress in administering the COVID-19 vaccine, Governor JB Pritzker announced the state will move into

Illinois Department of Commerce Office of Trade & Investment

Nine Must Reads for the CRE Industry (Jan. 21, 2021)

Sean Gallup/Getty ImagesREAL ESTATE>CRE WIRE  Nine Must Reads for the CRE Industry (Jan. 21, 2021)   Central bank bond buying has helped sustain capital markets, which has benefited commercial real estate globally, reports the Wall Street Journal. Footwear News analyzes how brick and mortar retail is continuing to evolve. These are among today’s must reads from around the commercial real estate industry. WMRE StaffCommercial Real Estate Debt Sustained by Bond Buying “Europe’s downtown office buildings

Mayor Kaptain Presents Annual State of the City Address

  For immediate release, January 20, 2021Mayor Kaptain Presents Annual State of the City Address               Elgin, IL - The Elgin Area Chamber (EAC), in partnership with the City of Elgin, invite the community to view Mayor Kaptain’s virtual State of the City Address. The virtual program can be viewed on the City’s YouTube Channel and it will be available on City of Elgin Facebook page, website and on Elgin's public

Randall Over 90 Virtual Public Information Meeting

PPP Loan Redux

PPP Loan Redux  January 2021  The U.S. Small Business Administration (SBA) just re-opened the Paycheck Protection Program (PPP) loans for new borrowers and qualified existing borrowers in the form of second draws.  The SBA is authorized to issue up to $284 billion to be used for payroll and certain other expenses through March 31, 2021.  Below is a summary of key features and some guidance items:   Eligibility   For first-time applicants, most of the original rules apply.  More groups are now

Francesca's Reduced Store Count Signals Steeper Cuts in Stores Exiting Bankruptcy

Francesca's Reduced Store Count Signals Steeper Cuts in Stores Exiting BankruptcyWomen's Retailer Picks Successful Bidder in Chapter 11 Auction TerraMar Capital and Tiger Capital Group are pairing up to buy Francesca's out of bankruptcy court. (Getty Images) By Marissa Luck CoStar News  To get a sense of what's happening to national retailers emerging from Chapter 11 bankruptcy restructuring, take a look at Francesca's, the women's clothing brand. A winning bidder emerged for the chain, but new

What the Bond Markets Are Telling Us

What the Bond Markets Are Telling Us “Science has not yet mastered prophecy. We predict too much for the next year and yet far too little for the next 10.” -Neil Armstrong, astronautFinancial market pricing is supposed to give us information about the future. Or at least give us clues to what informed investors think about the future. Before any readers fire off angry emails to us about the “information” being communicated by record stock prices occurring during a recession driven by a global pandemic,

U.S. Multifamily Tenants Owe $70B in Unpaid Rent

ANGELA WEISS/AFP/Getty ImagesPROPERTY TYPES>MULTIFAMILY  U.S. Multifamily Tenants Owe $70B in Unpaid Rent   Apartment investments are still an attractive bet, but income pressures are mounting on some properties. Bendix Anderson  A relief package passed by Congress in late December includes $25 billion in rental assistance, $600 direct payments to individuals who qualify and a reinstatement of some extra unemployment benefits. Those measures should all help tenants, but observers are looking to

DOL Clarifies that Not All Travel Time is Compensable in the Era of Telework

By Carlos Arévalo – SmithAmundsen – www.salawus.com    On the last day of 2020, the US Department of Labor (DOL) issued an opinion letter impacting employers using telework arrangements in light of the COVID-19 pandemic.  While a vaccine is now rolling out and we will hopefully get the pandemic under control in 2021, this opinion letter provides guidance to employers that have had to institute remote and hybrid work policies and/or arrangements with their workforce.    Specifically, the opinion letter

Where's the Fun? Pandemic Fallout Shakes Up US Entertainment Venues

Where's the Fun? Pandemic Fallout Shakes Up US Entertainment VenuesOperators Weigh Options as Outbreak Keeps Uncertainty in Play (Getty Images; SMG; Punch Bowl Social; CoStar) By Candace Carlisle CoStar News  If anyone was banking on the success of fun-based businesses, it was Kyle Noonan, who founded eatertainment company Free Range Concepts to lure crowds from nearby sporting events, concerts and conventions. But the pandemic means his bowling alleys that offer high-end food and drinks, as well as

2020 Holiday Sales Increase, Business Group Backs Biden Plan, US Dollar Finishes Strong

2020 Holiday Sales Increase, Business Group Backs Biden Plan, US Dollar Finishes StrongWhat You Need to Know to Start Your Day Holiday shoppers at a Silver Spring, Maryland, retail center showed up in person during December. U.S. retail sales in December were up 2.9% from December 2019, according to initial estimates from the Commerce Department. (Elvert Barnes/Flickr) By Richard Lawson CoStar News 2020 Holiday Sales Increase Doing the unexpected, U.S. shoppers managed to spend more during the 2020

Yellen Faces Senate

Yellen Faces Senate to Sell $1.9 Trillion Stimulus Package   Yellen will need to sell a package that includes a minimum-wage hike and substantial expansion in family and medical leave. Bloomberg | Jan 19, 2021   The Senate Finance Committee’s 10 a.m. hearing Tuesday is likely to feature topics from foreign-exchange policy to taxes, but it will also serve as the first congressional forum where lawmakers will vet President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan. Yellen will tell them

Local COVID-19 Testing Locations

World Wide Network Solutions January Newsletter

   Web Version | Unsubscribe | Forward                 About World Wide Network Solutions, Inc. World Wide Network Solutions, Inc. specializes in wide range of services, including tailored IT services and solutions for small and medium businesses and their owners. We are committed to providing each and every one of our clients with high quality service and support. Our unique IT team is incredibly friendly and can help you every step of the way in growing your business. Latest

Marketing in the Age of COVID-19

How Do We Even Do This Anymore?Marketing in the Age of COVID-19              There has been a 66% increase in social media content creation in the almost one year of living life in a pandemic, followed by blog content increases at 57% and video production increases of 50%. All the while, traditional marketing and advertising spend has been decreasing steadily throughout the past year. So how do we keep, and increase our market share during these

Biden, Test Sites and Walmart

Joshua Roberts/Stringer/Getty ImagesREAL ESTATE>CRE WIRE  Nine Must Reads for the CRE Industry   The Real Deal breaks down the provisions in President-elect Biden’s proposed COVID-19 relief package that would most directly affect the commercial real estate industry. Vaccinations of nursing home residents have faced delays, reports Reuters. These are among today’s must reads from around the commercial real estate industry. WMRE Staff  Biden’s $1.9T package would extend eviction ban, boost rent

The Factors That Can Determine the Fate of Hotel Markets This Year

The Factors That Can Determine the Fate of Hotel Markets This YearExperts Offer Possible Recovery Scenarios In the U.S. over the summer, markets such as Miami Beach and others along Florida’s Gulf and Atlantic coasts saw stronger performance. (Getty Images) By Bryan Wroten Hotel News Now  With the coronavirus pandemic depressing almost all corporate and group business in 2020, hotels in smaller drive-to markets generally outperformed larger urban markets as a result demand from vacationers. Now, in

Fashion Retailer Joins Macy’s, Gap With Plans to Leave Primary Shopping District

Express to Close Michigan Avenue Store in ChicagoFashion Retailer Joins Macy’s, Gap With Plans to Leave Primary Shopping District Express is closing its store on Michigan Avenue in Chicago. (CoStar) By Jennifer Waters CoStar News  In another blow to Chicago’s storied Magnificent Mile, Express said it is joining a growing list of retailers leaving the city’s high street. Store closing signs have already been posted at the men’s and women’s apparel store at the Omni Chicago Hotel building, 676 N.

Telemedicine Appointments Can Be Used To Establish Serious Health Conditions Under the FMLA

Recent guidance from the U.S. Department of Labor (DOL) reiterates that the DOL will allow telemedicine visits—generally speaking, health care appointments held via video conference—to qualify as in-person visits to a health care provider under certain circumstances. As our readers know, the FMLA provides certain employees up to 12 workweeks of leave for, among other things, a “serious health condition.”  An employee can show the existence of a serious health condition by several methods that include

Department of Commerce Newsletter

Northeast Region Weekly UpdateJanuary 18, 2021   Happy New Year! DCEO has hit the ground running as we kick off 2021.   With the reopening of the Paycheck Protection Program (PPP), we have set up webinars to provide the information out to you.  Please see below for that information.  Also, we have set up two programmatic webinars in early February.  One will focus on the Business Enterprise Program for businesses that are minority owned, woman owned, veteran owned, and/or owned by a person with a

Regions Across Illinois Advance Tiers

Regions Across Illinois Advance Tiers as State Launches Surge Staffing Program to Support Hospitals in Expanding CapacityIDPH Adjusts Metrics to Allow More Regions to Lift Strictest Mitigations Following Conversations with Hospital LeadersMonday, January 18, 2021 - Public Health, Department of SPRINGFIELD - With the state of Illinois launching multiple health care staffing contracts to increase hospital staffing, the Illinois Department of Public Health (IDPH) is adjusting its mitigation metrics to reflect

Tips for Finding Your Best Export Markets

Tips for Finding Your Best Export Markets Achieving your global sales goals is easier when you have current, reliable, actionable market intelligence.   Learn to conduct your market intelligence search using resources created by the export experts at the U.S. Department of Commerce’s International Trade Administration. You'll find out which markets worldwide show the most demand – right now – for your specific product or service.Whether you're a new or active exporter, our comprehensive

Shuttered Hotel To Get New Life as Affordable Apartments — For Less Than $5 Million

Shuttered Hotel To Get New Life as Affordable Apartments — For Less Than $5 MillionDeveloper Cites Advantages of Private Financing in Strategy To Meet US Housing Gap The former Ramada Inn in Sheffield, Alabama, will be converted to housing for middle-income workers. (CoStar) By Mark Heschmeyer CoStar News  The pandemic’s disruption of the housing and hospitality markets has created an opportunity for developer Richard Rubin to buy permanently closed hotels and convert them into apartments for

U.S. Trade and Development Agency Trade Posts

     TradePosts     JANUARY 14, 2021 | Vol. 114          Message from USTDA's Chief Operating Officer and Head of Agency            In every way, 2020 was a year to remember. Through it all, USTDA prepared and prevailed in its core

US Commercial Service Illinois Trade Events & Opportunities

Illinois Trade Events and Opportunities  Commercial Service Illinois continues to provide our clients and partners with counseling and information during these challenging times. Know that we are here for you whether you have questions about the status of an event, need to cancel a service, or are checking on the status of an export market.  To learn more about our virtual services, visit Trade.gov/virtual-services.  Connect with us on social media @USCommercialSvc for our latest updates

National US Rental Demand Closes Out Year at Strongest Level Since 2000

National US Rental Demand Closes Out Year at Strongest Level Since 2000Large Sun Belt Cities Stood Out Once Again in the Fourth Quarter, but Some Coastal Markets Rebounded Dallas-Fort Worth led the country in apartment demand for the third quarter in a row. (iStock) By David Kahn and Sam Tenenbaum CoStar Analytics  The United States ended the year with the best fourth quarter for apartment demand in two decades with large Sun Belt cities driving the most traffic, though some high-priced coastal

For Many Big-Name Retailers, 2020 Proved Brutal

For Many Big-Name Retailers, 2020 Proved BrutalPandemic Turmoil Leads to Large Numbers of Store Closures By Kevin Cody and Jelena Schulz CoStar Advisory Services  The pandemic helped accelerate a shakeout in retail that led many brands to retrench and rethink operations. Here's a look at some of the major store closings announced during 2020.

News Release: 1/14/2021

  The PB NewsBlog: January 14, 2021Welcome to the weekly roll-up of the Porte Brown NewsBlog. Want to skip this summary? Go directly to NewsBlog now >>   Questions?     ExitSmarts™ Webinar #5: Value Driver Implementation    Join Porte Brown on Thursday, January 28th at 2pm for our next ExitSmarts webinar, "Value Driver Implementation." This webinar is a continuation of the ExitSmarts: Exit Planning for Main Street Businesses series and will

Updated Mandatory Poster Sets Now Required

         UPDATED MANDATORY POSTER SETS NOW REQUIRED         Poster Sets are $49 per set plus sales tax and shipping    Place Your Order          Contact Information    Questions? Contact the Business Services Coordinator, Kirsten Constant  P: 217-522-5512 ext 227E:

2020 Historic Architectural Rehabilitation Grant Applications Available

  For immediate release, January 14, 20212020 Historic Architectural Rehabilitation Grant Applications Available             Deadline for submission of applications and supporting documentation is Friday, April 2.Elgin, IL - Applications for the 2021 Historic Architectural Rehabilitation Grant Program are now available to be downloaded from the City’s website at cityofelgin.org/historicgrants. The deadline for

Multifamily Properties Are Positioned for a Strong 2021

RomanBabakin/iStock/Getty ImagesPROPERTY TYPES>MULTIFAMILY  Multifamily Properties Are Positioned for a Strong 2021   The rollout of a vaccine and the likelihood of more federal COVID-19 relief measures in the near term will help sustain the apartment sector. Bendix Anderson  Economists expect the average apartment community to remain close to fully-occupied in 2021 with relatively stable rents and stable collections. Investors ended 2020 on a brisk buying clip fueled in part by capital

13 Real Estate Articles on the 13th of January

Rasi Bhadramani/iStock/Getty ImagesREAL ESTATE>CRE WIRE  13 Must Reads for the CRE Industry Today (Jan. 13, 2021)   Some REITs have been buying their own shares, according to Dow Jones Newswires. New York restaurant owners file a new lawsuit against Governor Cuomo over shifting regulations, reports Eater New York. These are among today’s must reads from around the commercial real estate industry. WMRE Staff Big Real Estate Firms Turn Buyers of Their Own Shares “Some publicly traded real-estate

Office Sales Are Starting to Tick Up, as Distress Fails to Materialize

Peter Adams/Stone/Getty ImagesPROPERTY TYPES>OFFICE  Office Sales Are Starting to Tick Up, as Distress Fails to Materialize   Private equity funds have been among the most active buyers in recent months. Patricia Kirk  That quarter saw a portfolio deal by the Blackstone Group, which agreed to acquire a 49 percent stake in Hudson Pacific Properties’ studio and office portfolio in Los Angeles, including five office buildings with almost 1 million sq. ft. of space. The second largest office portfolio

A Bumpy Start to a New Year

A Bumpy Start to a New Year “Crippled and crazy, we hobble toward the finish line, pen in hand.”-Siri Hustvedt, American novelist and essayistThat’s basically how we approach our deadline each week. Just ask our wonderful editors.This week was particularly challenging. There is always plenty to think about when new jobs data is released, and pairing that with new record COVID deaths and the U.S. Capitol building being overrun for the first time in over 200 years … well, it can be hard to pull a narrative

Illinois Chamber Rail Report

January 11, 2021  Highlights from Today:  Both the House and Senate were in session today.   The Economic Equity Act was divided into four bills, each listed below.   SB 1480 was amended and now states that it is a civil rights violation for any employer, employment agency or labor organization to use a conviction record as a basis to refuse to hire, to segregate, or to act with respect to recruitment, hiring, promotion, renewal of employment, selection for training or apprenticeship,

SBA Announces ASCENT Online Learning Platform for Women

    SBA has announced Ascent, an interactive digital platform packed with resources women business owners need to set, and achieve, their business goals. Ascent is designed for the “missing middle” — growth-oriented women entrepreneurs who are beyond the start-up phase and already generating revenue yet looking to grow and scale. Most learning resources for business owners focus on either start-ups or mature businesses. Ascent is here to change that!During these challenging times, SBA’s Ascent can

IDPH Posts COVID-19 Vaccination Data

IDPH Posts COVID-19 Vaccination Data Illinois Averages 24,200 Vaccines Administered Daily for Past Seven Days SPRINGFIELD – Beginning today, the Illinois Department of Public Health (IDPH) is now reporting coronavirus disease (COVID-19) vaccination data on its website, with data to be updated daily and additional data to be provided as available.  It is important to note that vaccine distribution figures are reported in real time, while vaccine administration figures are reported with as much as a

Elgin Extends City Hall Closure and Suspension of Non-Essential Inspections

For immediate release, January 12, 2020Elgin Extends City Hall Closure and Suspension of Non-Essential Inspections  City of Elgin extends prior mitigation actions until February 8 Elgin, IL - The City of Elgin is limiting interactions with the public by extending the closure of City Hall and suspending non-essential inspections until Monday, February 8. This action follows Governor Pritzker's executive order extending statewide Tier 3 mitigations through Saturday, February 6.  "The City has

Fallout Widens After Mobbing of US Capitol, Job Losses Mount, Walgreens Exceeds Earnings Expectation

Fallout Widens After Mobbing of US Capitol, Job Losses Mount, Walgreens Exceeds Earnings ExpectationsWhat You Need to Know to Start Your Day Walgreens reported strong earnings from pharmacy sales in the quarter ended Nov. 30, just before U.S. jobs losses mounted in part because of the pandemic. (Getty) By Richard Lawson CoStar News Fallout Widens From Mobbing of US Capitol The fallout is spreading in the wake of supporters of President Trump mobbing the U.S. Capitol last week. Marriott International

Weekend Articles of Interest

Robert Nickelsberg/Getty ImagesREAL ESTATE>CRE WIRE  10 Must Reads for the CRE Industry Today    NMHC’s first rent payment tracker numbers for 2021 show that 76.6 percent of renters had paid full or partial rent by January 6. Before Trump supporters turned violent at the Capitol they had been providing a boost to local hotel occupancies, reports Bisnow. These are among today’s must reads from around the commercial real estate industry. WMRE Staff NMHC Rent Payment Tracker Finds 76.6 Percent of

$275 Million Provided to Businesses Through Business Interruption (BIG) Grants

Business Interruption Grants Program (BIG) The Business Interruption Grant (BIG) program was developed by Governor JB Pritzker and the Illinois General Assembly to provide $580 million in economic relief for small businesses hit hardest by COVID-19. BIG – the largest program of its kind in the nation - leverages federal funding provided by the CARES Act to help offset COVID-19 related losses for Illinois small businesses. The BIG program consisted of $290 million for child care providers and $290 million

Bed Bath & Beyond Plans 42 More Store Closings by End of February

Bed Bath & Beyond Plans 42 More Store Closings by End of FebruaryRetailer Prepares National Expansion of New Store Design Being Tested in Houston Bed Bath & Beyond has remodeled 10 stores in the Houston area and will begin rolling out the new design in other locations across the nation. (Bed Bath & Beyond) By Linda Moss CoStar News  Bed Bath & Beyond plans to close 42 brick-and-mortar sites by the end of February and is preparing to remodel 150 stores this year as part of its real estate strategy

Interesting National Real Estate News

REAL ESTATE>CRE WIRE11 Must Reads for the CRE Industry (Jan. 8, 2021)   Vacant Sears stores might become COVID-19 vaccination sites, reports the Wall Street Journal. Strapped for funds, New York State might legalize marijuana this year, according to The New York Times. These are among today’s must reads from around the commercial real estate industry. WMRE Staff U.S. Disaster Costs Doubled in 2020, Reflecting Costs of Climate Change “Hurricanes, wildfires and other disasters across the United States

Local Girl Scouts Launch Initial Cookie Orders January 6–30, 2021!

Northern Illinois – Local Girl Scouts have set-up their cookie websites and been busy marketing their products and selling Girl Scout Cookies online since December 14, 2020, for the Early Bird Online Only part of the annual Girl Scout Cookie Program! Now that 2021 is here, girls may choose to take cookie orders safely in-person from January 6–30, as they create new ways to connect with customers and offer contactless ordering and delivery door-to-door!  This year’s delicious cookie lineup features

PPP Applications Reopen January 11 with New Guidance

SBA and Treasury Announce PPP Re-Opening; Issue New GuidanceWASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The

New Laws for Illinois for 2021 from Lavelle Law

              A Summary of NEW LAWS in 2020 and BeyondBecause of the COVID-19 pandemic, 2020 was a slow year for the Illinois General Assembly. Most of the new laws for 2021 are modified existing statutes that are meant to provide provisions related to the pandemic. Listed below are some new laws that may have a significant impact on our clients.    REMOTE WITNESSING AND NOTORIZATION (SB 2135/PA 101-0640) Legislation

Starship Travel Welcomes 2021 and 35 Yers of Making Dreams Come True!

January 2021        Find out what Starship Travel is up to!    Welcome, 2021! Starship Travel is wishing everyone a Happy New Year- we hope to see many more faces in the office in 2021, and many more beautiful destinations! Read on to see what we have been up to and find out how destinations are changing for our safety.     Visit our Website           Our Favorites from 2020  Though this year was unlike any other, Starship Travel managed

Pritzker Administration Targets $520 Million Corporate Tax Loopholes in Advance of Lame Duck Session

Decoupling from Federal Tax Law Changes Made Will Preserve More than $500 Million in State Revenue  Expansion of EDGE, River’s EDGE and High Impact Business Tax Credits to be Delayed for $20 Million in SavingsCHICAGO — Due to the budget crisis caused by the ongoing COVID-19 pandemic, Governor JB Pritzker is freezing the implementation of a new set of state business tax credits and calling for a decoupling of Illinois tax law from recently enacted federal business tax changes that would cost Illinois in

Family Video, the Midwestern Rental Chain That Outlasted Blockbuster, Closes All 250 Stores

Family Video, the Midwestern Rental Chain That Outlasted Blockbuster, Closes All 250 StoresExecutives Attribute Decision to COVID-19, Lack of New Film Releases Family Video leases 3,000 square feet at 609 Pennsylvania Ave. E in Warren, Pennsylvania. (CoStar) By Cara Smith-Tenta CoStar News  Family Video, the last prominent national video rental chain, said it's permanently closing all its brick-and-mortar stores as a result of the challenges brought by the pandemic. The 42-year-old company, which

Sun Belt States Benefit From Migration Trends in Pandemic

Sun Belt States Benefit From Migration Trends in PandemicFirst US Census Data on Population Trends in Outbreak Also Shows States Relying on Immigration Lose Population Idaho was the only state to outperform its 10-year annual growth rate average by more than 50 basis points. (Getty Images) By David Kahn and Sam Tenenbaum CoStar Analytics  The U.S. Census Bureau's latest population growth estimates by state, an important indicator for commercial real estate demand, provides the first granular look at

In Sign of Retail's Future, Tuesday Morning, Chuck E. Cheese Parent Exit Bankruptcy With Less Proper

In Sign of Retail's Future, Tuesday Morning, Chuck E. Cheese Parent Exit Bankruptcy With Less PropertyRetail Operators Shed Leases, Debt to Become More Efficient A sign advertises take-out pizza on the exterior of a Chuck E. Cheese restaurant in June in Pinole, California. (Justin Sullivan/Getty Images) By Candace Carlisle CoStar News  Two national retail and entertainment brands the pandemic pushed into bankruptcy emerged from Chapter 11 after months of reorganizing and shedding real estate,

Real Estate News

Grant Faint/The Image Bank/Getty ImagesREAL ESTATE>CRE WIRE  14 Must Reads for the CRE Industry Today   The Wall Street Journal looks at how apartment REITs that focus on major U.S. cities might perform in 2021. The owners of Mall of America have modified the property’s mortgage and are now current on the loan, according to CNBC. WMRE Staff City Apartment REITs Await the Return to the Office “Shares of real-estate investment trusts that are big owners of rental apartments in New York, San Francisco

We Are Growing – Plum & Company, P.A. Joined Mueller

Effective January 1, 2021, Plum & Company, CPAs, P.A., a certified public accounting firm headquartered in Sarasota, Florida has been acquired by Chicago area based firm, Mueller & Co., LLP. Plum & Company will operate under the Mueller name and continue to serve clients at their respective Florida address. Plum & Company is a leading firm in the Sarasota area, focused on providing business advisory and tax services. “Our goal in doing business together is to provide increased depth and expertise to our

Gov. Pritzker Announces the Next Phase of COVID-19 Vaccine Distribution Plan, Lowers Vaccine Age to 65

Gov. Pritzker Announces the Next Phase of COVID-19 Vaccine Distribution Plan, Lowers Vaccine Age to 65Phase 1B Follows ACIP Guidelines, But Prioritizes Equity and Protects Most Vulnerable Illinoisans by Lowering Vaccine Age to 65 from 75; Vaccinations for Expanded Phase Will Begin When Phase 1A is Substantially Complete CHICAGO – Building on guidance by the Centers for Disease Control and Prevention’s (CDC) Advisory Committee on Immunization Practices (ACIP) and the Illinois Department of Public Health

Hoping for a Reverse of 2020

Hoping for a Reverse of 2020 “For last year’s words belong to last year’s languageAnd next year’s words await another voice”-T.S. EliotWe wrote a lot of words last year. Words about COVID and lost jobs and recession. Hopefully most of those will be words left in last year.If we had to make one prediction about 2021, it would be that more real estate will be used. After a year of uncertainties, we feel comfortable saying that, and it should be just that: a comfort. We’ll take the easy shots so we can get on

OTI-Office of Trade & Investment

    Illinois Office of Trade & Investment (OTI)    Dear Illinois Exporters:  The Office of Trade & Investment (OTI) continues to offer Illinois businesses virtual services to support export promotion and international sales growth. OTI’s team of Chicago-based international trade specialists and our six foreign trade offices in: Belgium, Canada, China, Israel, Japan, and Mexico are ready to support

Applebee's is Testing it First Drive-thru Location

The Texarkana Applebee's unit’s new drive-thru window is scheduled to open early this year.PROPERTY TYPES>RETAILApplebee’s Is Testing its First Drive-thru Location   A franchise operator is retrofitting an existing location in Texas that could serve as a potential prototype for future brand designs. Nation's Restaurant News An Applebee’s franchise operator is retrofitting a location in Texarkana, Texas, with a drive-thru pickup window that the franchisor hopes will provide insights for future store

Eight Ways the Pandemic Changed Commercial Real Estate

Eight Ways the Pandemic Changed Commercial Real EstateThe Big Question Now: Which Trends Stick? People dine in social-distancing bubble tents at the Cafe Du Soleil restaurant on the Upper West Side as New York City imposes restrictions to slow the spread of coronavirus. (Noam Galai/Getty Images) By Katie Burke CoStar News  The coronavirus pandemic has forced the commercial real estate market into a series of seismic shifts, accelerating some trends and bringing others to a complete halt. It wasn't

Investors, Developers Cash In on Amazon’s Insatiable Expansion

Investors, Developers Cash In on Amazon’s Insatiable ExpansionSales of Industrial Properties Leased to E-Commerce Giant Top $3 Billion for Second Year in a Row Transwestern Development built and leased a distribution center to Amazon at 6885 Commercial Drive in Springfield, Virginia. In June, it sold the property for $52.75 million. (Transwestern) By Mark Heschmeyer CoStar News  The so-called Amazon effect, the shrewd influence the e-commerce giant has had on countless aspects of business because of

Mobile COVID-19 Testing in Kane County This Month

Mobile COVID-19 Testing in Kane County This Month January 4, 2021 – The Kane County Health Department (KCHD) announced today that a mobile testing unit managed by the Illinois Department of Public Health will be in Kane County this month to provide COVID-19 tests to the community. Saturday, January 16 Hampshire High School, 1600 Big Timber Rd., Hampshire 60140 Sunday, January 17 Elgin Sports Complex, 709 Sports Way, Elgin 60123 Saturday, January 23 Dundee Crown High School, 1500 Kings Rd.,

HOLIDAY PARTIES at the HAIGHT

Holiday Party promotion available now through January 2021!

Wedding/Baby Shower Promotion at the Haight

Wedding/Baby Shower promotion running now through February 2021!

Randall Over 90 Update Sept 15

     Randall Over 90 UpdateThe Kane County Division of Transportation (KDOT) has been coordinating with the Illinois Department of Transportation (IDOT) and the Federal Highway Administration (FHWA) during the Randall Over 90 study.  One new development from this coordination: All parties agree that the project can benefit from a transition from a feasibility study to a Planning and Environmental Linkage (PEL) strategy.    FHWA developed the PEL

CHASE is Hiring!

Employment Opportunities at Chase Elgin Credit Card Service Center 2500 Westfield Dr. Elgin, IL 60124 Are you ready to start a career at Chase? Submit your application on our website today!www.chase.com/careers200028578 -Specialist I - Collections - Elgin, IL  We now have full-time opportunities in the Collection’s Group. Our Collections group creates and delivers the right solutions to our customers to resolve account delinquency, directly impacting the risk of loss to the Bank.  We are looking for

EAC's Business Review Newsletter for March 2020

 EAC's Business Review Newsletter for February 2020  

EAC's Business Review Newsletter for February 2020

 EAC's Business Review Newsletter for February 2020

EAC'S Business Review Newsletter for January 2020

Welcome New Chamber Members!

Welcome to these new Chamber members in January!   Culver's of Elgin Ross Thomas 1175 N. McLean Boulevard Elgin IL 60123 OPENING SOON!!www.culvers.com Food & Beverages/Restaurants   H.B. Fuller Lesandro Gonzalez 1575 Executive Drive Elgin IL 60123 (847) 841-7002www.hbfuller.com Industrial/Adhesive – Manufacturer   Innerspire, Inc Nate Lindquist 164 Division Street, Suite 406 Elgin IL 60120 (904) 385-9017www.TheMinimalistCEO.com Business Services/Consulting   Rosenfeld Injury Lawyers,