The Biz Week That Was: Airport naming rights, home sales climb, GameStop closes, and Bears stadium deal hurdles

‘This terminal is courtesy of (your company)’ — Chicago seeks input on O’Hare, Midway sponsorships

Naming rights and sponsorships for O’Hare and Midway assets, from elevators to terminals, could be in the future for businesses seeking to build their brands. As it looks to generate new revenues, the Chicago Department of Aviation on Wednesday invited companies and industry stakeholders to provide feedback on sponsorships at O’Hare and Midway international airports.

Sales tax in Deer Park may stay 8% for a while longer

Empowered by a change in state law, Deer Park officials are considering leaving the overall sales tax on goods purchased in town at 8% until 2031 rather than letting it drop to 7.5% in two years. Voters approved a temporary half-percentage-point sales tax increase in 2021 and renewed it for four years in 2024 as it was set to expire.

U.S. home resales climb to strongest pace since 2023

U.S. previously owned home sales climbed in December to the fastest pace since 2023, a welcome sign for a housing market that has lacked momentum for several years. Contract closings rose 5.1% to a 4.35 million annualized pace last month, the highest since February 2023, according to figures released Wednesday by the National Association of Realtors.

McHenry GameStop among several closed in northern Illinois

McHenry’s GameStop is among several of the gaming and collectibles stores across Illinois that have closed in recent days or are about to be shuttered. GameStop is closing numerous stores nationwide including the one in McHenry, said Doug Martin, McHenry’s economic development director, in an email. Stores in Geneva, South Elgin, DeKalb, New Lennox, Joliet and Shorewood also are among the closures.

Elgin mayor stresses ‘stability’ in annual State of the City address

Elgin Mayor David Kaptain told business leaders this week that the city’s focus on financial and governmental stability over the past 10 years will help them navigate the next 10. Kaptain said it had been a turbulent year for the country since his last address, which is hosted annually by the Elgin Area Chamber of Commerce and Elgin Development Group at Elgin Community College.

What has stalled Bears stadium deal? Report blames taxes and politics

A former suburban politician turned policy adviser and consultant’s analysis of the Bears’ stalled stadium search suggests economics and politics are to blame, and argues that politicians here should take the team’s threat to move to Northwest Indiana seriously.

Lake County farm aims to provide fresh, chemical-free produce to restaurants and homes

Living Roots Farm is a new, family-owned business run by mother-son duo Diana and Nic Geudtner in Fox Lake. The two are looking to serve their locally grown indoor produce to restaurants and homes in the Chicago and Milwaukee area.