Record downtown office vacancy, eviction ban expiring + more news

Historic drop in demand fuels record-high downtown office vacancy: "Companies left behind more downtown office space during the second quarter than they did in any full year on record, pushing the share of vacant workspace in the central business district to a record high for the third straight quarter, new data shows. The downtown office vacancy rate rose to 19.4 percent during the three months ending June 30 amid a slew of moves from companies that recently went to other buildings and others that have shed space amid the COVID-19 pandemic, according to a report from real estate services firm CBRE. That's the highest rate CBRE has tracked in 15 years of data collection, topping the previous high of 18.6 percent at the end of the first quarter. (Crain's Chicago Business)

State ban on evictions will expire at the end of August: "Illinois' ban on evictions caused by the COVID-19 pandemic will end August 31, Gov. J.B. Pritzker announced Wednesday. Pritzker's announcement means the state's ban on most evictions will have lasted more than 17 months after beginning in March 2020 when the governor ordered Illinois residents to stay home to stop the spread of the coronavirus... Pritzker plans to issue an executive order July 23 that will allow landlords to ask a court to evict tenants who earn less than $99,000 annually—or $198,000 if a couple files jointly—and had been unable to pay rent because of the COVID-19 pandemic starting on August 1. Eviction orders will be allowed to be enforced after August 31." (WTTW Chicago)

West Side residents call for CTA Green Line renovations, Lake Street bus, and more: "Residents who are part of the Westside & West Suburban Infrastructure Coalition held a news conference Wednesday morning where they called for sweeping changes to to transportation infrastructure throughout the West Side. They said the updates are needed to make it easier for residents to travel around city and to boost economic development and support local businesses. 'We have been neglected on the West Side for the past 53 years,' said resident Tiffany Smith. 'It is outrageous that we don’t have the services we need.'" (Block Club Chicago)

Chicago planning agency gets first design committee: "The city's planning department is establishing its first design committee of outside experts to weigh in on major developments before they get built. The Committee on Design, appointed by the Department of Planning and Development, will advise the city and developers about innovative, attractive, and cost-effective elements. The 24 unpaid members include architects, artists, academics, and real estate professionals. The committee will be an extra stop for projects that already must get approval from department staff, the City Council and, in some cases, the Chicago Plan Commission. But officials said the committee will streamline reviews and approvals by clarifying designs early in the process." (Chicago Sun-Times)

Divvy kicks off West Side expansion: "City officials held a ribbon-cutting ceremony at Douglas Boulevard and Central Park Avenue in North Lawndale to kick off the next phase of Divvy expansion into Chicago's West Side, adding 3,500 new electric bikes. The event also celebrated the installation of 107 new “e-stations,” bike rack installations intended for parking electric Divvy bikes, within a 35-square mile area of the Southwest and Northwest Sides of the city. Another 48 new e-stations will also be installed within the existing service area to improve station density in underserved areas. When the expansion is completed, the Divvy system will include 7,000 e-bikes, 16,500 total bikes and more than 800 stations, and the service area will cover 190 square miles." (StreetsBlog Chicago)

Amazon buys Central Steel plant for $35 million, plans delivery station on sprawling Southwest Side site: "Amazon has paid $35 million for the Central Steel & Wire plant on the Southwest Side, completing a deal for one of the largest sites in the e-commerce company's ever-growing distribution network in the Chicago area. Seattle-based Amazon in June completed the purchase of the more than 70-acre site at 3000 W. 51st Street, according to Cook County property records." (Chicago Tribune)

City awards $10 million in Neighborhood Opportunity Fund grants to 27 entrepreneurs: "Five years ago, then-Mayor Rahm Emanuel devised a plan to counter complaints that his downtown-centric development efforts had left Chicago neighborhoods behind. Emanuel let developers in a broader downtown area build bigger and taller projects so long as they agreed to share the wealth with long-neglected neighborhoods on the South and West sides. On Monday, Mayor Lori Lightfoot basked in the glow of her predecessor's brainchild, doling out $10 million in Neighborhood Opportunity Fund grants to 27 Chicago entrepreneurs." (Chicago Sun-Times) 

700 people apply for 75 apartments In Jefferson Park affordable housing development NIMBYs didn't want: "An affordable housing development that took more than four years to get off the ground could be completed by the end of the summer—and the long list of people hoping to move in includes some people who opposed affordable units in the area, the developer said. Developer Full Circle Communities' seven-story building at 5150 N. Northwest Highway, which is across from the Jefferson Park (16th) District police station and close to the Jefferson Park transit station, is leasing its 75 affordable apartments to veterans and older people." (Block Club Chicago)