Here is another nail in the lakefront coffin. The $7 billion price tag put forth in the video includes retiring the existing debt on both the existing Soldier Field as well as the White Sox's Guaranteed Rate Field. So the actual real cost is somewhere in the $5.5 to $6 billion.
It will never come in on budget. At either location, so I am sure the cost will be even higher than that
Here is another nail in the lakefront coffin. The $7 billion price tag put forth in the video includes retiring the existing debt on both the existing Soldier Field as well as the White Sox's Guaranteed Rate Field. So the actual real cost is somewhere in the $5.5 to $6 billion.
LOL..."retiring"
That means the existing debt will be rolled into the new package and refinanced with new bond sales. The ridiculousness of this whole scheme is best illustrated by the fact the city still hasn't paid off 98% of the principle on debt from the awful 2001 renovation
Here is another nail in the lakefront coffin. The $7 billion price tag put forth in the video includes retiring the existing debt on both the existing Soldier Field as well as the White Sox's Guaranteed Rate Field. So the actual real cost is somewhere in the $5.5 to $6 billion.
LOL..."retiring"
That means the existing debt will be rolled into the new package and refinanced with new bond sales. The ridiculousness of this whole scheme is best illustrated by the fact the city still hasn't paid off 98% of the principle on debt from the awful 2001 renovation
I totally agree. Constantly refinancing your personal debt without every paying down any significant part of the principal is a sure-fire way to end up bankrupt. I hope I can move out of the Chicago area (and out of Illinois) before the city and state go into default.
That means the existing debt will be rolled into the new package and refinanced with new bond sales. The ridiculousness of this whole scheme is best illustrated by the fact the city still hasn't paid off 98% of the principle on debt from the awful 2001 renovation
I totally agree. Constantly refinancing your personal debt without every paying down any significant part of the principal is a sure-fire way to end up bankrupt. I hope I can move out of the Chicago area (and out of Illinois) before the city and state go into default.
That means the existing debt will be rolled into the new package and refinanced with new bond sales. The ridiculousness of this whole scheme is best illustrated by the fact the city still hasn't paid off 98% of the principle on debt from the awful 2001 renovation
I totally agree. Constantly refinancing your personal debt without every paying down any significant part of the principal is a sure-fire way to end up bankrupt. I hope I can move out of the Chicago area (and out of Illinois) before the city and state go into default.
I left a long time ago and don't regret it. Happy to visit family and see Bears games but would never live there again. IL is in the bottom 5 of states for business climate and fiscal mismanagement.
I totally agree. Constantly refinancing your personal debt without every paying down any significant part of the principal is a sure-fire way to end up bankrupt. I hope I can move out of the Chicago area (and out of Illinois) before the city and state go into default.
I left a long time ago and don't regret it. Happy to visit family and see Bears games but would never live there again. IL is in the bottom 5 of states for business climate and fiscal mismanagement.
And the heck of it is, even the spendthrift politicians are not behind this one (the Lakefront thing). This is not 2002 anymore... Raising tax burdens on the people? It is toxic to even THINK this could fly in this 2024 climate. And on top of that it is an election year too. People are taxed to death right now. They. Have. Had it.
That means the existing debt will be rolled into the new package and refinanced with new bond sales. The ridiculousness of this whole scheme is best illustrated by the fact the city still hasn't paid off 98% of the principle on debt from the awful 2001 renovation
I totally agree. Constantly refinancing your personal debt without every paying down any significant part of the principal is a sure-fire way to end up bankrupt. I hope I can move out of the Chicago area (and out of Illinois) before the city and state go into default.
We moved out of Illinois to Iowa almost 2 years ago and couldn’t be happier! It’s a shame because IL has a ton of cool stuff to see and experience.
