The Biz Week That Was: Hospital merger, data center windfall and worsening inflation are among the highlights
Endeavor Health and Rush University System for Health announce plans to merge
Two major Chicago area hospital systems — Endeavor Health and Rush University System for Health — announced plans Wednesday to merge, a union that would create one of the largest health systems in Illinois.
Elk Grove Village using data center windfall to give residents $200 gift cards
Though it may not be en vogue these days, Craig Johnson doesn’t hide his love of data centers. On Tuesday night, the mayor of Elk Grove Village — home to 20 of the computer storage sites — rattled off his latest boosterism: He led state legislators — who are mulling over regulations on the industry — on a data center tour; hosted a delegation from Osceola County, Florida considering a sprawling redevelopment; penned an Op-Ed in the Chicago Tribune; and gave an interview on WGN radio.
How new apartment development fills the housing gap in Fox Lake
A long-sought housing option in Fox Lake is emerging at a former quarry site, with the first tenants of a 154-unit market-rate apartment development starting to move in. Construction of The Residences at the Quarry began last fall west of Route 12 and north of Big Hollow Road. It is the first new multifamily housing project in the village in 15 years.
A property anchored by a Walgreens drugstore in downtown Naperville and previously floated as an opportunity for new mixed-use retail and residential development has a new owner. Will Kreuzer, principal for Evolve Commercial Real Estate, has purchased the roughly two-acre property at the corner of Main Street and Aurora Avenue. The sale was completed at the end of July this year and part of a three-property portfolio that sold for $7.25 million, according to CoStar.
Inflation worsened last month to 3.7% in sign that prices remain elevated as midterm elections near
U.S. inflation accelerated last month as gas, clothes, and airfares got more expensive, evidence that rising prices remain an economic challenge just a few weeks before the midterm elections. The consumer price index rose 3.7% in September compared with a year ago, the Labor Department said Wednesday, up from 3.4% in August. On a monthly basis, costs jumped 0.6% from August to September, up from 0.4% the previous month.
Troubled Vista Medical Center loses fifth CEO in three years
Daisy Rodriguez became the fifth CEO to leave Vista Medical Center East in Waukegan over the past three years, stepping down Oct. 6, but she says she remains committed as a consultant to helping the hospital climb out of its difficult financial situation.