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Chicago to build arena for DePaul with taxpayer's money

Bradley should seek reimbursement for cost of Renaissance Center from Peoria, E Peoria, Peoria County and Tazwell County!
 
Glad I don't pay taxes in IL anymore and don't get to Chitown to pay their horrendous local taxes ( and taxes that stick it to tourists - hotel, rental car, and airport).
 
as expected, the timetable for DePaul playing in their proposed new downtown Chicago arena has already been pushed back

the original expected opening date was first - the beginning of the 2016-17 season and most recently was January 2017

now the earliest it would be expected is "late 2017", possibly by the start of the 2017-18 season

http://chicago.suntimes.com/commentary/7/71/350031/depaul-delays-debut-of-basketball-arena


btw - this year's schedule for DePaul has two of their non-conference games scheduled to be played in their tiny 3000 seat on-campus arena..
games vs. Western Michigan & UALR are to be played in McGrath
http://www.scout.com/college/depaul/story/1554674-depaul-hosting-two-games-in-lincoln-park
 
tornado said:
Chicago's proposed new DePaul basketball arena that was first proposed in 2013 and said would be done by 2016 -
then moved to Jan. 2017 - and now won't be ready for at least another full season - fall 2017.
http://www.chicagotribune.com/sport...debut-of-basketball-arena-20150206-story.html

They still haven't broken ground so you can bet the final costs will dwarf the proposed cost estimate of $164 mil.
Click to expand...

Yup - 2 1/2 years since the plans were made known & we are nearing the point in time when they thought this arena would actually be DONE & ready for use...

and yet they STILL haven't even broken ground - but bet a bunch of politicians and influential landowners & contractors have already made some bucks.
https://twitter.com/phillipshoops/status/664479974531817473
 
I was up to see a recent Bears game, and from my window in the McComick Place Hyatt, I had a good view of the lots where the arena is proposed to be built. The arena will face Cermack (the main east-west street just barely seen at the left lower side of the photo), which borders the south end of the property.
Also on the property, a Marriott Hotel will be breaking ground soon. But so far, all that's happened is that the properties have been cleared except for many piles of rubble.

DSC01375.jpg
 
DePaul stands to reap $34 million from basketball arena by McCormick Place
http://www.chicagotribune.com/news/watchdog/ct-depaul-basketball-arena-met-20160303-story.html

DePaul stands to make huge profits by partnering with the city of Chicago on their new arena, even if they don't draw any fans!
The deal given to DePaul allows them to profit from the naming rights for the arena, sponsorships, premium seating and suite sales, and other advertising revenue. DePaul also keeps 100% of the ticket revenue, which is unusual for a college team playing in a public arena. They do have to pay rent for their use of the arena at $445,000 per year for the next 50 years, but they will not have to pay for maintenance costs. That is actually a pretty good deal. Both the DePaul men's and women's teams will play their home games there. That means at least 36-40 events a year will be held there (this season, the men had 18 home games and women had 19), so the rent breaks down to only about $12,000 or less per event, which is much less than Bradley pays to use the Carver Arena. It is also reportedly a much better deal that DePaul had with the Allstate Arena in Rosemont. And since the rent costs remain stable for the next 50 years, the deal will look better and better. On the other hand, the taxpayers take the hit for subsidizing DePaul sports.
 
Now the talk is on - WHO ought to be the very first opponent DePaul plays in their new arena?
They plan to open the new Chicago arena to start the 2017-18 season.
http://depauliaonline.com/2016/05/30/depaul-first-opponent-new-arena/

A couple of teams are suggested- Northwestern, Illinois, UIC...
but I think they ought to consider Bradley...

Illinois has NOT played DePaul since 1957 - so you think they want to go there and take a chance of forever being honored as the arena's first victim?

Northwestern - again a Big Ten team - they RARELY ever open on the road, and since they played AT DEPAUL just last season (12/19/15) I think they'd want a home game from DePaul before they play another road game there.

UIC? Seriously, is this what they want? They're in a worse rebuilding spot than we are...
When they played last season, it was so lopsided (82-55), that fans left well before the end, and there were a lot of no-shows.

Bradley and DePaul have played 39 times going back to 1940 with Bradley winning that LAST THREE MEETINGS- IMO this makes Bradley a more suitable choice
 
War Zone

War Zone

Heck, by the time this stadium is finished, there may not be anyone left alive in Chicago at the rate they are shooting and killing each other.

Another shining example of a Democratically controlled city, in a democratically controlled State (despite Rauner's efforts to clean up the mess).
 
AZ BU Fan said:
Heck, by the time this stadium is finished, there may not be anyone left alive in Chicago at the rate they are shooting and killing each other.

Another shining example of a Democratically controlled city, in a democratically controlled State (despite Rauner's efforts to clean up the mess).
Click to expand...

Careful, you're telling it like it is. Not supposed to do that nowdays.
 
AZ BU Fan said:
Glad I don't pay taxes in IL anymore and don't get to Chitown to pay their horrendous local taxes ( and taxes that stick it to tourists - hotel, rental car, and airport).
Click to expand...

We make quite a bit of money off of visitors. Its true. Did you know that Chicago has nearly as many yearly visitors as NYC? We're only a couple million behind. Something like 55 million in Chicago and 58 million in NYC.

To live here, taxes are actually cheap _percentage wise_. Taxes on my home are something like 1.526%. Even after the recent increase to pay pensions it went to 1.7%

My parents out in the suburbs are paying 3%.

As for sales taxes, I don't know anyone who lives here and really buys all their stuff here. Groceries aren't taxed. Everyone buys the rest off Amazon online. So the only sales taxes I think locals truly pay are for clothes and gas.

So yeah. Taxes that residents pay are pretty low. We nail the tourists and corporations. Corporations keep moving downtown despite budgetary concerns. They are absolutely desperate for talent. And as fivethirtyeight has shown, the best talent seeks out dense urban environments.
 
I understand it is what those in control in Chicago and in Springfield feel they have to do to raise more and more revenue to pay for all their unfunded social programs, and the whopping pensions.

But although the city of Chicago has grown in the recent past, it is now starting to lose people faster than any other part of the country. Years of huge tax increases, poor schools, and the exploding and unchecked crime in Chicago is starting to drive away people, including the wealthy, high earners, and businesses.

These are all recent articles from the last couple months:

Illinois losing jobs-
http://www.bizjournals.com/chicago/...e-all-the-jobs-gone-illinois-losing-jobs.html

Millionaires are leaving Chicago more than any other city in the United States according to a new report-
http://www.chicagotribune.com/business/ct-chicago-losing-millionaires-0405-biz-20160404-story.html

Chicago was the only city among the top 20 cities in America that lost population last year, and is now close to falling behind Houston into 4th place. The reasons given were "high taxes, the state budget stalemate, crime, the unemployment rate, and the weather"-
http://www.chicagotribune.com/news/...ago-losing-population-met-20160518-story.html

Cook County now leads the nation in population loss-
http://chicagotonight.wttw.com/2016/03/29/why-second-city-first-population-loss

And although the Chicago metro population had been rising in past years, it took a sharp downturn in this past 12 months. Cook County is losing population faster than any county in the US, and the state of Illinois is losing population faster than any other state according to the US Census Bureau.-
http://www.chicagobusiness.com/arti...-population-drops-for-the-first-time-in-years

People are fleeing many of the ethnic neighborhoods because of crime, gangs, the horrible public school system-
https://www.dnainfo.com/chicago/201...mets-on-far-nw-side-as-residents-head-suburbs
 
I have said it for years... and yet the very people who caused all of this...Arne Duncan, Barack Obama, Rahm Emanuel...
all get praised for supposedly doing a great job then move on to bigger & better things..
..all, of course, except Mike Madigan who won't leave 'til he's the last one living in Chicago & getting his whopping pension..
 
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