AUGUST 5, 2024
MEGADEVELOPMENTS
LAMAR JOHNSON COLLABORATIVE
A rendering of the Illinois Quantum & Microelectronics Park, a 128-acre campus planned for the long-dormant South Works property along Lake Michigan.
The South Works and United Center projects could set the stage for more action in investment-starved neighborhoods I By Danny Ecker newly announced Illinois Quantum & Microelectronics Park stands to turn the long-dormant U.S. Steel South Works property into a cutting-edge 128acre campus for quantum computing research. Palo Alto, Calif.-based startup PsiQuantum will anchor the project with a commitment to invest $1 billion into it and bring scores of jobs to the area as it vies to build the world’s largest quantum computer in South Chicago. See PROJECTS on Page 22
RIOS
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or years, Chicago planning officials have labored to kick-start real estate development in disinvested South and West Side neighborhoods, chipping away at one publicly subsidized apartment building, one retail project, one community center at a time. Now, two massive proposals and billions of dollars in new investment stand to supercharge their effort. The challenge is making sure they have the ripple effect the city needs. Along a once-gritty stretch of Lake Michigan, the
An aerial rendering of the 1901 Project
Chicago’s business community unveils new PAC Obama and Emanuel administration veterans are teaming up to fund candidates, advocate for policies favored by local civic and biz industries
BLOOMBERG
By Justin Laurence
When Mayor Brandon Johnson rode a wave of progressive support into City Hall last year he brought along enough City Council allies to quickly rack up legislative victories favoring workers that were opposed by the business community. Now, with over two years be-
fore the next municipal election, a group of veteran politicos with ties to former Mayor Rahm Emanuel and Chicago’s civic institutions are launching a political action committee and affiliated nonprofit advocacy group they hope will give them a head start on fundraising to advance the policy goals of Chicago’s business community.
The political action committee, dubbed One Future Illinois, could play a role as soon as this fall when Chicago begins voting for a newly elected school board. Between elections, the group plans to have the resources to push the city and state to focus on its policy priorities, including
VOL. 47, NO. 30 l COPYRIGHT 2024 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED
ORPHE DIVOUNGUY The economy’s in great shape? Don’t tell city renters. PAGE 2
ENTERTAINMENT How Lollapalooza picked Chicago, thanks to a mundane park district budget meeting. PAGE 3
See PAC on Page 22