Crain's Chicago Business, 130 E. Randolph Street, Chicago, IL (2026)

01/12/2026

On a warm day in late June 2019, Gov. JB Pritzker smiled as he signed into law what he and state lawmakers dubbed the “most equity-centric” ma*****na legalization bill in the country.

The Cannabis Regulation & Tax Act called for expunging ma*****na-related criminal records, devoted tax revenue to investments in poorer communities, and followed a national trend at the time of setting aside a solid portion of future ma*****na business licenses for individuals and families who had been negatively affected by cannabis prohibition.

The bill was supposed to diversify the Illinois ma*****na market, which was — and arguably still is — dominated by large multistate companies such as Cresco Labs, Verano Holdings and Green Thumb Industries. Opportunities for mom-and-pop businesses in cannabis before the CRTA were scant, if they existed at all.

The idea was that anyone who had been incarcerated due to ma*****na’s illegality should be in line to profit from the up-and-coming multibillion-dollar industry, says Democratic state Rep. Sonya Harper, who was one of the bill's 30 sponsors.

Six and a half years later, that pledge to better the lives of downtrodden Illinois residents has fallen somewhat flat, with less than half of those issued social equity licenses having opened for business. And those entrepreneurs who are open report expensive hurdles and elusive profits have left them still working day jobs.

Read more here: https://www.chicagobusiness.com/elevate/cannabis-equity-illinois-still-dream-many?utm_source=facebook&utm_medium=soc-own

01/09/2026

Real estate agent Lisa Finks works in several North Shore communities, but in 2025 one of them demanded more of her time than the rest: Wilmette.

The data bear her out. Home sales in Wilmette grew by more than 20% in 2025 from the year before, according to preliminary sales records at year-end. It's one of nine places in the city and suburbs where Crain's found sizable increases in sales.

These upticks stand in contrast to the metro-area housing market, which was flat overall. In the nine-county metro area, home sales ended 2025 at about 0.2% higher than 2024, early results indicate. Underscoring the flatness is the fact that 2024 was the lowest-selling year for Chicago-area homes since 2011. The 2025 figure may change slightly when Illinois Realtors releases its official tally of sales for December in a few weeks.

Also on the list of places where home sales rose a lot are the city neighborhoods of Little Village (up 24%), Avondale (19%), Humboldt Park and South Shore (both about 13%), and the suburbs of Plainfield (14%), Flossmoor (12%), Schaumburg and Glen Ellyn (both 11%). This is not a comprehensive list; other locations with the same level of activity may surface as more year-end data becomes available.

Read more here: https://www.chicagobusiness.com/residential-real-estate/9-places-chicago-and-suburbs-where-home-sales-are-soaring?utm_source=facebook&utm_medium=soc-own

01/08/2026

A generation coming into adulthood as the cost of homeownership rises may be so discouraged that they not only stick with renting but make risky financial choices like investing in cryptocurrencies, according to a research paper from two Chicago economics graduate students.

The discouraged may come to care less about their jobs, have fewer children and engage less with their local community, wrote the authors, Seung Hyeong Lee, a Ph.D. candidate in economics at Northwestern University, and Younggeun Yoo, who's pursuing the same degree at the University of Chicago.

In a 2024 survey on real estate by the Harris Poll, 44% of respondents agreed with the statement, "My area has become so unaffordable it's barely livable." Among Gen Z respondents — people born between 1997 and 2012 — 46% thumbs-upped the statement, "No matter how hard I work, I will never be able to afford a home I really love."

These attitudes will lead to widespread giving up on ever owning homes, the authors of the November paper wrote. In an email exchange with Crain's, they said a "minor" version of giving up is taking place among largely middle-aged homeowners who might otherwise downsize but stay put because of the unaffordability of moving to another home.

Read more here: https://www.chicagobusiness.com/residential-real-estate/housing-despair-affects-work-and-family-choices-paper-finds?utm_source=facebook&utm_medium=soc-own

01/08/2026

The past few years, Michelin has rapidly expanded its Guide in North America, dishing out its coveted stars in more cities than ever before.

To help fund that expansion, some cities are paying the tire manufacturer to bring its guides to town. Chicago, whose restaurants have been receiving stars for almost 15 years, is not one of them.

Michelin is clear to cities that do pay: The money does not guarantee stars. Its rigorous selection process remains unchanged. Still, some who follow the world of fine dining wonder if the arrangement somehow dims the highly sought-after stars, even in cities that don’t pay Michelin to judge their restaurants.

“(There) certainly is a risk for that, even if it hasn’t happened yet,” said Mike Gebert, longtime Chicago food journalist. “The fact that there’s money involved, how can anyone not regard that with at least a raised eyebrow?”

A Michelin spokesperson confirmed the company does not have a partnership with a “destination marketing organization” in Chicago, New York or D.C, meaning the cities’ tourism arms do not pay it for inclusion in the guide, rather they may pay a certain amount to cover some cost of establishing a guide in a new location.

It’s an agreement that makes good business sense, experts say. Michelin wants to expand, but it costs money to do so. A city wants more culinary tourism, and Michelin’s endorsements are proven to drive visits. So what’s the downside?

Read more here: https://www.chicagobusiness.com/restaurants/are-michelin-guides-and-restaurant-stars-losing-their-shine?utm_source=facebook&utm_medium=soc-own

01/07/2026

At least three restaurants are preparing to open at 174 N. Michigan Ave., a four-story building near Millennium Park that has sat empty for years but is now getting fresh life from a new owner.

Crain's already reported fast-casual chain Velvet Taco inked a lease for the ground floor space. Now, building permit and business license documents filed with the city and state show restaurants by the names Genki and Kanpai Hot Pot & BBQ are also headed to building.

Multiple restaurants moving into the Loop will surely be a welcomed relief for downtown advocates who have dealt with record-high retail vacancies since the pandemic.

Genki appears connected to Japanese restaurant Genki Izakaya in Northern Virginia. The team behind that restaurant is in the process of growing elsewhere, with a new upscale spot soon opening in Maryland. It's not clear what the Chicago location will offer.

Kanpai stems from an all-you-can-eat Southeast Asian barbecue and shabu-shabu restaurant under the same name that also has Washington, D.C.-area roots.

Read more here: https://www.chicagobusiness.com/restaurants/genki-kanpai-asian-restaurants-open-loop-building?utm_source=facebook&utm_medium=soc-own

01/07/2026

If you’re a fan of big, swanky steakhouses, 2025 was your year. The Alston in the Gold Coast, Adalina Prime in the West Loop, and The Greggory in South Barrington all opened, and the crowds followed.

While the latest steakhouse trend may be “the bigger, the better,” if you’d rather dine in a more intimate setting, Boeufhaus is the ticket. Hidden in plain sight on Western Avenue, the French- and German-inspired restaurant has a concise menu of steak as well as seafood, shareable plates, soup and more.

Crain’s recommender-in-chief touts the short rib beignets, salade du marché, boeuf fat fries, and his go-to pasta: cavatelli with merguez sausage, caramelized shallots and fried ceci beans. The mostly French wine list is extensive, with plenty of options by the glass.

Read the full recommendation here: https://www.chicagobusiness.com/dining-table-david-manilow/dining-table-recommends-boeufhaus?utm_source=facebook&utm_medium=soc-own

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01/05/2026

Chicago-area home prices are defying the weakness in the U.S. housing market, rising at about twice the rate of inflation and four times the nationwide growth in home prices.

While that's disconcerting news for people who are trying to buy a home, it's also a sign of stamina in Chicago at a time when other big-city housing markets are losing steam.

Home prices in the Chicago area were up 5.83% in October from a year earlier, according to S&P CoreLogic Case-Shiller Indices data released today. It's the highest figure reported for 19 major U.S. cities (ordinarily there are 20, but the index reported it was not able to gather complete October data for Detroit).

It's also more than four times the growth in prices nationwide, which was 1.36%, according to the index.

While the shutdown of the federal government in the fall means no nationwide inflation figure was reported for the month, the Bureau of Labor Statistics reported that in the Chicago area, the Consumer Price Index was up 2.9% in September and 2.5% in November. Thus, it seems safe to say Chicago's 5.83% increase in home prices was around twice the rate of inflation, and likely more than twice.

Read more here: https://www.chicagobusiness.com/residential-real-estate/chicago-home-prices-fastest-rising-us-outpace-inflation?utm_source=facebook&utm_medium=soc-own

01/05/2026

Amy Morton is coming home. The restaurateur and daughter of legendary Morton's The Steakhouse founder Arnie Morton will open a second location of her acclaimed The Barn Steakhouse in downtown Highland Park in early February — just doors down from where her father once operated a restaurant and where she grew up.

The new 5,000-square-foot restaurant at 1900 1st St. will occupy the former Little Szechwan space, tucked down a cobblestone alley adorned with twinkling lights just north of Central Avenue. With 82 seats in the main dining room, a 12-seat zinc-topped bar just inside the door and a speakeasy called 1898 with its own entrance behind the restaurant, the Highland Park location mirrors the intimate scale of Amy Morton's Evanston flagship, which opened in 2016.

Morton has always wanted to expand The Barn to other locations, but took time to find the right location. Initially, she looked farther north in Libertyville and Highwood as to not cannibalize the traffic to Evanston, but never really considered Highland Park despite — or maybe because of — growing up there.

Read more here: https://www.chicagobusiness.com/restaurants/amy-morton-opening-barn-steakhouse-highland-park?utm_source=facebook&utm_medium=soc-own

12/23/2025

Real estate giant Hines has picked up the former Boeing headquarters office tower in the West Loop for $22 million, acquiring the building in partnership with the investor that owns the land beneath it.

A joint venture of Houston-based Hines and New York-based Stahl Organization late last month purchased the 36-story building at 100 N. Riverside Plaza from the aerospace company, according to Cook County property records and a source familiar with the deal. The sale was for a leasehold interest in the building, which is separate from Stahl's ownership of the ground on which it sits.

The purchase kicks off a new chapter for the 776,000-square-foot riverfront building more than three years after Boeing announced it would move its headquarters out of Chicago. Several prominent real estate firms subsequently pursued the tower in hopes of buying it at a discount price and reviving it with new tenants amid strong demand for top-tier, riverfront workspace.

That's now the challenge for Stahl and Hines, which is known for developing and owning big nearby office towers such as Salesforce Tower Chicago and 444 W. Lake St.

Read more here: https://www.chicagobusiness.com/commercial-real-estate/boeings-west-loop-office-tower-sold-22-million?utm_source=facebook&utm_medium=soc-own

12/22/2025

By the numbers, 2025 is shaping up to be Chicago’s safest year in decades. As quickly and unexpectedly as crime and violence surged during the pandemic, they receded this year — and not just to pre-pandemic levels, but to historic ones.

Chicago homicides, which hit a 10-year high in 2021, are on pace to reach the lowest total since the mid-1960s. Violent crime in general, which reached a 10-year high in 2023, is also likely to record a 10-year low in 2025. Robbery, too, is down sharply.

The declines are worth celebrating. They’re also a bit jarring and hard to make sense of — both because they follow so closely on the heels of the pandemic crime wave and because the city continued this year to fall prey to the sort of high-profile crime that suggests violence and disorder still aren’t fully under control.

Identifying the most important factors contributing to the decline is essential to charting a successful path forward, because directing resources toward effective strategies is likely key to sustaining momentum, experts say.

Theories range from broad social and cultural shifts (for example, kids these days don’t spend as much unstructured time together, which means fewer opportunities to get into trouble) to evolving law enforcement strategies and community interventions. Adding to the complexity is the fact that murder and violence in general have declined across the country. The gains in most places are not as dramatic as in Chicago, but the national trends make it hard to give too much credit to any particular local initiative.

Read more here: https://www.chicagobusiness.com/crains-forum-violence-reduction/chicago-violence-fell-historic-low-2025?utm_source=facebook&utm_medium=soc-own

12/18/2025

If you’ve ever passed the intersection of Lincoln and Wellington avenues, you’ve probably noticed the orange sign bearing the letters “S&G.” They stand for brothers Sam and George Boudouvas, who opened S&G Restaurant nearly 70 years ago.

The diner has remained in the family ever since, with George’s three children — Fran, Maria and John — taking over in the early 2000s. The sisters run it now, and they’re ever-present: at the cash register, waiting tables, refilling coffees and trading banter with regulars.

S&G Restaurant is open daily from 6 a.m. to 6 p.m. and is best known for breakfast. The egg skillets are bestsellers; the pancakes and French toast are flavorful and filling; and almost everything is homemade — from the hash browns to the daily soups to the pot roast.

You’ll see solo diners, couples, groups of friends and even the occasional business meeting. Service is efficient, and the food arrives piping hot. It’s one of the few places left where they still call customers “hon.”

There are dozens and dozens of diners scattered throughout Chicago. Whether you’ve partied a little too hard this holiday season or the early winter is wearing you down, the comfort of spots like S&G is the perfect antidote.

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Read the full rec here: https://www.chicagobusiness.com/dining-table-david-manilow/dining-table-recommends-sg-restaurant

12/17/2025

Arlington Heights is no longer the sole focus for the Chicago Bears in their quest to build a new stadium.

In a letter to fans posted on their website, team president and CEO Kevin Warren announced the search area to find a suitable location to build has been widened to the greater Chicago area, including northwest Indiana.

"We still believe (Arlington Heights) offers the best and only path forward in Cook County given there are no other viable alternatives," Warren said in the letter. "Over the past several years, we have worked in good faith with Illinois leaders and made clear our commitment and readiness to invest more than $2 billion by the Chicago Bears, one of the largest private investments in state and NFL history."

After setting their sights solely on the former Arlington Park site earlier this year, the Bears have hit a wall in Springfield in their attempt to secure $862 million in public infrastructure funding and a freeze on the property tax assessment on the site.

"We listened to state leadership and relied on their direction and guidance, yet our efforts have been met with no legislative partnership," Warren said.

Read more here: https://www.chicagobusiness.com/sports/bears-stadium-search-now-includes-indiana?utm_source=facebook&utm_medium=soc-own

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