Misplaced Pages

#976023

70-564: The First Chicago method was first developed by, and consequently named for, the venture capital arm of the First Chicago bank, the predecessor of private equity firms Madison Dearborn Partners and GTCR . It was first discussed academically in 1987. The First Chicago method takes account of payouts to the holder of specific investments in a company through the holding period under various scenarios; see Corporate finance § Quantifying uncertainty . Most often this methodology will involve

140-582: A sculpture by Pablo Picasso and the state law courts. Given its proximity to government offices, the center's plaza serves as a kind of town square for celebrations, protests, and other events. The Loop is in South Chicago Township within Cook County. Townships in Chicago were abolished for governmental purposes in 1902 but are still used for property assessment. The nearby James R. Thompson Center

210-570: A new federally chartered bank that could take advantage of the National Banking Act of 1863, which allowed national banks to exist along with state-chartered institutions for the first time. First Chicago received National Bank charter No. 8. The new bank known as The First National Bank of Chicago, or The First, grew steadily in the 1860s, financing the American Civil War . The First merged with Union National Bank in 1900 and with

280-460: A personal vehicle at all, compared to 26.4 percent citywide and 12.6 percent regionally. The Loop is Community Area 32. In addition to the financial ( West Loop–LaSalle Street Historic District ), theatre, and jewelry ( Jewelers Row District ) districts, there are neighborhoods that are also part of the Loop community area. According to the 2010 census, 29,283 people live in the neighborhoods in or near

350-538: Is Chicago 's central business district and one of the city's 77 municipally recognized community areas . Located at the center of downtown Chicago on the shores of Lake Michigan , it is the second-largest business district in North America after Midtown Manhattan . The headquarters and regional offices of several global and national businesses, retail establishments, restaurants, hotels, and theaters–as well as many of Chicago's most famous attractions–are located in

420-477: Is a mixed-use district bordered by Michigan Avenue to the west, the Chicago River to the north, Randolph Street to the south, and Lake Shore Drive to the east. It encompasses the entire Illinois Center and Lakeshore East is the latest lead-developer of the 1969 Planned Development #70, as well as separate developments like Aon Center, Prudential Plaza, Park Millennium Condominium Building, Hyatt Regency Chicago, and

490-452: Is a section of Grant Park, opened in the summer of 2004 and features Frank Gehry 's Jay Pritzker Pavilion , Jaume Plensa 's Crown Fountain , and Anish Kapoor 's Cloud Gate sculpture along Lake Michigan . The Chicago River and its accompanying Chicago Riverwalk, which delineates the area, also provides entertainment and recreational opportunities, including the annual dyeing of the river green in honor of St. Patrick's Day . Trips down

560-562: Is across the street. The Federal Reserve Bank of Chicago is located on LaSalle Street in the heart of the financial district. The United States Postal Service operates the Loop Station Post Office at 211 South Clark Street. The Chicago Fire Department operates 3 Fire Stations in the Loop District: Several countries maintain consulates in the Loop. They include Argentina , Australia , Canada , Costa Rica ,

630-478: Is objectively too low given the prospects for the business. Often the First Chicago method may be preferable to a discounted cash flow taken alone. This is because such income-based business value assessment may lack the support generally observable in the market place. Professionally performed business appraisals go further and use a set of methods under all three approaches to business valuation. Variations of

700-754: Is the city headquarters for state government, with an office for the Governor. Many state agencies have offices here, including the Illinois State Board of Education . A few blocks away is the Everett McKinley Dirksen United States Courthouse housing federal law courts and other federal government offices. This is the seat of the United States Court of Appeals for the Seventh Circuit . The Kluczynski Federal Building

770-621: Is the most Democratically leaning district in Illinois according to the Cook Partisan Voting Index with a score of D+38 and represented by Democrat Danny K. Davis . List of United States representatives representing the Loop since 1903 Illinois's 1st congressional district (1903 – 1963): Illinois's 7th congressional district (1963–present): The Loop area derives its name from transportation networks present in it. Passenger lines reached seven Loop-area stations by

SECTION 10

#1732884166977

840-786: Is the second largest commercial business district in the United States after New York City's Midtown Manhattan . Its financial district near LaSalle Street is home to United Airlines , Hyatt Hotels & Resorts, and CME Group 's Chicago Board of Trade and Chicago Mercantile Exchange . Aon Corporation maintains an office in the Aon Center . Chase Tower houses the headquarters of Exelon . United Airlines has its headquarters in Willis Tower , having moved its headquarters to Chicago from suburban Elk Grove Township in early 2007. Blue Cross and Blue Shield Association has its headquarters in

910-450: The 2016 presidential election , the Loop cast 11,141 votes for Hillary Clinton and cast 2,148 votes for Donald Trump (79.43% to 15.31%). In the 2012 presidential election , the Loop cast 8,134 votes for Barack Obama and cast 2,850 votes for Mitt Romney (72.26% to 25.32%). In the U.S. House of Representatives , the area is wholly within Illinois's 7th congressional district , which

980-623: The AT&;T Corporate Center . Chicago's fourth tallest building, the Aon Center , is located just south of Illinois Center . The complex is at the east end of the Loop, east of Michigan Avenue . Two Prudential Plaza is also located here, just to the west of the Aon Center. The Loop contains a wealth of outdoor sculpture, including works by Pablo Picasso , Joan Miró , Henry Moore , Marc Chagall , Magdalena Abakanowicz , Alexander Calder , and Jean Dubuffet . Chicago's cultural heavyweights, such as

1050-751: The Art Institute of Chicago , the Goodman Theatre , the Chicago Theatre , the Lyric Opera at the Civic Opera House building, and the Chicago Symphony Orchestra , are also in this area, as is the historic Palmer House Hilton hotel, found on East Monroe Street. Chicago's waterfront, which is almost exclusively recreational beach and park areas from north to south, features Grant Park in

1120-464: The Chicago City Council , which are represented by aldermen Sophia King , Byron Sigcho-Lopez , Bill Conway and Brendan Reilly . From the city's incorporation and division into wards in 1837 to 1992, the Loop as currently defined was at least partially contained within the 1st ward. From 1891 to 1992 it was entirely within the 1st ward and was coterminous with it between 1891 and 1901. It

1190-589: The Chicago River to the west and north, Lake Michigan to the east, and Roosevelt Road (12th Street) to the south is called the Loop. It took its name from a somewhat smaller area, which meant the 35 city blocks bounded on the north by Lake Street, on the west by Wells Street, on the south by Van Buren Street, and on the east by Wabash Avenue—the Union Loop formed by the 'L' in the late 1800s. Similarly, " South " and " West Loop " historically referred to areas within

1260-640: The Home Insurance Building , considered the world's first skyscraper (demolished in 1931); the Chicago Board of Trade Building , a National Historic Landmark ; and Willis Tower , the world's tallest building for nearly 25 years. Some of the historic buildings in this district were instrumental in the development of towers. This area abounds in shopping opportunities, including the Loop Retail Historic District , although it competes with

1330-636: The Home Insurance Building , generally considered the world's first skyscraper, was constructed, followed by the development of the Chicago school best exemplified by such buildings as the Rookery Building in 1888, the Monadnock Building in 1891, and the Sullivan Center in 1899. Loop architecture has been dominated by skyscrapers and high-rises since early in its history. Notable buildings include

1400-595: The Illinois Senate most of the community area is in District 3, represented by Democrat Mattie Hunter , while a large part in the east is part of District 13, represented by Democrat Robert Peters , and a very small part in the west is part of District 5, represented by Democrat Patricia Van Pelt . The Loop community area has supported the Democratic Party in the past two presidential elections by large margins. In

1470-656: The Michigan Plaza complex. Sidley Austin has an office in the Loop. The Chicago Loop Alliance is located at 55 West Monroe, the Chicagoland Chamber of Commerce is located in an office in the Aon Center, the French-American Chamber of Commerce in Chicago has an office in 35 East Wacker , the Netherlands Chamber of Commerce in the United States is located in an office at 303 East Wacker Drive, and

SECTION 20

#1732884166977

1540-720: The Millennium Station , which serves as the Chicago terminal of the Metra Electric District line that goes to University Park , and LaSalle Street Station , which serves as the Chicago terminal of the Rock Island District line bound for Joliet , are in the Loop. In addition to the terminals, the Van Buren Street station and Museum Campus/11th Street station on the Electric District line are also in

1610-683: The National Bank Holiday of 1933 . In 1903, the First opened the First Trust and Savings Bank which provided savings accounts to individual customers. First Trust and Savings Bank merged with Union Trust Company in 1928 to become the First Union Trust and Savings Bank. During the Great Depression, the First would absorb First Union Trust and Savings Bank's customers and operations. The bank

1680-470: The 1830s, the area was selected as the site of their respective seats. Originally mixed-use, the neighborhood became increasingly commercial in the 1870s. This process accelerated in the aftermath of the 1871 Great Chicago Fire , which destroyed most of the neighborhood's buildings. Some of the world's earliest skyscrapers were constructed in the Loop, giving rise to the Chicago School of architecture . By

1750-466: The 1890s, with transfers from one to the other being a major business for taxi drivers prior to the advent of Amtrak in the 1970s and the majority of trains being concentrated at Chicago Union Station across the river in the Near West Side . The construction of a streetcar loop in 1882 and the elevated railway loop in the 1890s gave the area its name and cemented its dominance in the city. In Metra

1820-446: The 1920s old buildings were purchased in the area and converted to parking structures. More high-rise garages and parking lots were constructed in the 1930s, which also saw the advent of double-deck parking. The first parking meters were installed in 1947 and private garages were regulated in 1957; they were banned outright in the Loop in the 1970s in response to federal air-quality standards. The first underground garages were built by

1890-401: The 1980s, CEO Barry F. Sullivan , formerly with Chase Manhattan Bank , was able to turn around the bank in the early 1980s. Additionally First Chicago's private equity operations proved highly successful and served the incubator for a number of successful independent private equity groups. Stanley Golder , who built the group in the 1970s left the bank in 1980 to found GTCR . In the 1990s,

1960-412: The Chicago River throughout the area. Illinois Center neighborhood has three-level streets. The eastern terminus of U.S. Route 66 (US 66), an iconic highway in the United States first charted in 1926, was located at Jackson Boulevard and Michigan Avenue . When Illinois and Missouri agreed that the local signage for US 66 should be replaced with that of Interstate 55 (I-55) as

2030-483: The Chicago River, including architectural tours, by commercial boat operators, are great favorites with both locals and tourists alike. The Loop is the seat of Chicago's city government. It is also the government seat of Cook County and houses an office for the governor of Illinois . The city and county governments are situated in the same century-old building . Across the street, the Richard J. Daley Center accommodates

2100-703: The Czech Republic , Ecuador , El Salvador , France , Guatemala , Haiti , Hungary , Indonesia , Israel , the Republic of Macedonia , the Netherlands , Pakistan , Peru , the Philippines , South Africa , Turkey , and Venezuela . In addition, the Taipei Economic and Cultural Office of the Republic of China is in the Loop. The Loop is currently a part of the 4th, 25th, 34th and 42nd wards of

2170-581: The Fairmont Chicago, Millennium Park. The area has a triple-level street system and is bisected by Columbus Drive. Most of this district has been developed on land that was originally water and once used by the Illinois Central Railroad rail yards. The early buildings in this district such as the Aon Center and One Prudential Plaza used airspace rights in order to build above the railyards. The New Eastside Association of Residents (NEAR) has been

First Chicago method - Misplaced Pages Continue

2240-404: The First Chicago method are employed in a number of markets, including the private equity secondary market where investors project outcomes for portfolios of private equity investments under various scenarios. First Chicago Bank First Chicago Bank was a Chicago , United States-based retail and commercial bank tracing its roots to 1863, when it received one of the first charters under

2310-456: The Fort Dearborn reservation that became part of the city in 1839 and land reclaimed from Lake Michigan. The area was bustling by the end of the 1830s. Lake Street started to be a center for retail at that time, until it was eclipsed by State Street in the 1850s. By 1948 an estimated one million people came to and went from the Loop each day. Afterwards, suburbanization caused a decrease in

2380-514: The Loop area and offer 24/7 service; the Red and Blue Lines are the only rapid transit lines in the United States west of the Appalachian Mountains to offer such service. Bus Rapid Transit has been implemented in the Loop. Chicago's address system has been standardized as beginning at the intersection of State and Madison Streets since September 1, 1909. Prior to that time, Chicago's street system

2450-584: The Loop proper, but in the 21st century began to refer to the entire Near South and much of the Near West Sides of the city, respectively. In 1803, the United States Army built Fort Dearborn in what is now the Loop; although earlier settlement was present, this was first settlement in the area sponsored by the United States' federal government . When Chicago and Cook County were incorporated in

2520-419: The Loop. The professional sector is the largest source of employment of both Loop residents and Loop employees, at respectively 21.4 and 23.3 percent. Finance was the second most common employment for both groups, at respectively 13.5 and 17.7 percent. Health Care was the third largest sector for residents at 10.2 percent while Education was the third largest sector for Loop employees at 13 percent. Education

2590-536: The Loop. 26.8 percent worked outside of Chicago. Respectively 11.5, 8.0, and 2.8 percent worked in the Near North Side , the Near West Side , and Hyde Park . Conversely, 45.5 percent of the people employed in the Loop lived outside of Chicago. Lake View housed 4 percent of Loop employees, the highest percentage of any of Chicago's community areas. The Near North Side, West Town , and Lincoln Park respectively housed 3.8, 2.6, and 2.5 percent of those working in

2660-578: The Loop. All stations in the Loop are in Zone A for fare collection purposes. The interurban South Shore Line , which goes to South Bend, Indiana , has its Chicago terminal at Millennium Station. All lines of the Chicago "L" except the Yellow Line serve the Loop area for at least some hours. The State Street Subway and Dearborn Street Subway , respectively parts of the Red Line and Blue Line , are present in

2730-410: The Loop. The neighborhood also hosts Chicago's City Hall , the seat of Cook County , offices of other levels of government, and several foreign consulates. The intersection of State Street and Madison Street in the Loop is the origin point for the address system on Chicago's street grid . The Loop's definition and perceived boundaries have developed over time. Since the 1920s, the area bounded by

2800-483: The Loop. The median sale price for residential real estate was $ 710,000 in 2005 according to Forbes. In addition to the government, financial, theatre and shopping districts, there are neighborhoods that are also part of the Loop community area. For much of its history this Section was used for Illinois Central rail yards, including the IC's Great Central Station , with commercial buildings along Michigan Avenue. The New Eastside

2870-565: The Metropolitan National Bank in 1902. At the beginning of the twentieth century, noted investors in the bank include J. Pierpont Morgan , James Stillman , Jacob H. Schiff , E. H. Harriman , and Marshall Field . In 1913, The First became a charter member of the Federal Reserve system. The First survived the depression, even acquiring Foreman State Banks in 1931 and was able to open its doors without regulatory delays following

First Chicago method - Misplaced Pages Continue

2940-712: The US Mexico Chamber of Commerce Mid-America Chapter is located in an office in One Prudential Plaza . McDonald's was headquartered in the Loop until 1971, when it moved to suburban Oak Brook . When Bank One Corporation existed, its headquarters were in the Bank One Plaza, which is now Chase Tower. When Amoco existed, its headquarters were in the Amoco Building, which is now the Aon Center. In 2019, about 40 percent of Loop residents were also employed in

3010-476: The area's importance. Starting in the 1960s, however, the presence of an upscale shopping district caused the area's fortunes to increase. The Loop's population has boomed in recent years, having a 158 percent population increase between 2000 and 2020. Between 2010 and 2014, the number of jobs in The Loop increased by nearly 63,000 jobs, or an increase of over 13%. The Loop, along with the rest of downtown Chicago,

3080-460: The area. 33.3 percent of Loop residents walk or bike to work compared to 7.3 percent citywide. An additional 19.4 percent of Loop residents use transit for a daily commute, while 23.4 percent of residents citywide do. Just 22.2 percent of Loop residents drive to work alone or in a carpool, compared to 54.9 percent of all Chicago residents and 72.5 percent in the greater Chicago region. By household, 47.2 percent of Loop residents do not have access to

3150-504: The bank failed and the bank struggled through the end of the 1970s, suffering from highly speculative bets on interest rates. Expansion beyond a single retail banking location was hindered for years. Not only was Illinois one of the last states to allow branch banking, but for years it did not allow holding companies to own more than one bank. First Chicago was not able to open its first branch bank until 1977, when banks were allowed to open two limited banking facilities within 1,500 feet of

3220-489: The bank moved into a new skyscraper in the Loop in Chicago (originally called First National Plaza, it is now known as Chase Tower ). The bank grew consistently through the early 1970s, however, the bank's growth undermined its underwriting standards. By the end of 1975 and the beginning of 1976, non-performing loans at First Chicago had reached twice the national average for commercial banks at roughly 11% of all loans. Efforts to fix

3290-469: The city in the early 1950s. All residences and places of employment within the Loop are in highly walkable areas; the Chicago Metropolitan Agency for Planning defines such areas based on population density, the length of city blocks, tree canopy cover, fatalities or grievous injuries incurred by pedestrians and bicyclists in the area, the density of intersections, and amenities located near

3360-403: The construction of: Once these have been constructed, the valuation proceeds as follows. The method is used particularly in the valuation of growth companies which often do not have historical financial results that can be used for meaningful comparable company analysis . Multiplying actual financial results against a comparable valuation multiple often yields a value for the company that

3430-664: The downtown area. Grant Park is the home of Buckingham Fountain , the Petrillo Music Shell , the Grant Park Symphony (where free concerts can be enjoyed throughout the summer), and Chicago's annual two-week food festival, the Taste of Chicago , where more than 3 million people try foods from over 70 vendors. The area also hosts the annual music festival Lollapalooza which features popular alternative rock, heavy metal, EDM , hip hop, and punk rock, artists. Millennium Park , which

3500-507: The early 1990s and sought out a merger with the National Bank of Detroit , which at the time was the 18th largest bank in the US (First Chicago was the 10th largest bank). The $ 5 billion merger, completed in 1995, created First Chicago NBD Corporation , the 7th largest bank in the US with $ 72 billion of assets, and was also a leader in the issuance of credit cards. While NBD was the nominal survivor,

3570-458: The first hotel in Chicago, was built in 1831 near Wolf Point at what is now the northwestern corner of the Loop. When Cook County was incorporated in 1831, the first meeting of its government was held at Fort Dearborn with two representatives from Chicago and one from Naperville . The entirety of what is now the Loop was part of the Town of Chicago when it was initially incorporated in 1833, except for

SECTION 50

#1732884166977

3640-477: The highway was predominately north–south in those states, most signs of the former highway in Chicago were removed without incident but the final sign on the corner of Jackson and Michigan was removed with great fanfare on January 13, 1977, and replaced with a sign reading "END OF ROUTE 66". The first anti-parking ordinance of streets in the Loop was passed on May 1, 1918, in order to help streetcars, and had been advocated by Chicago Surface Lines . This law banned

3710-610: The late 19th century, cable car turnarounds and the Union Loop encircled the area, giving the neighborhood its name. Near the lake, Grant Park "Chicago's front yard" is Chicago's oldest park but was significantly expanded in the late 19th and early 20th centuries and houses a number of features and museums. Starting in the 1920s, road improvements for highways were constructed to and into the Loop, perhaps most famously U.S. Route 66 , which opened in 1926. While dominated by offices and public buildings, its residential population boomed during

3780-409: The latter 20th century and first decades of the 21st, partly due to the development of former rail yards (at one time, the area had six major interurban railroad terminals and land was also needed for extensive rail cargo storage and transfer), industrial lands, as well as highrise residences. Since 1950, the Loop's population has increased the most out of all of Chicago's community areas. The origin of

3850-463: The main office. Unlike its rivals, First Chicago waited two years before making its first bank purchase after the Illinois legislature began to allow holding companies to own more than one bank in 1981. In 1984, First Chicago purchased American National Corporation, the holding company for American National Bank and Trust Company of Chicago, another bank located in the Loop, from Walter E. Heller International Corporation for $ 275 million. During

3920-622: The merged bank was headquartered in Chicago. In April 1998 First Chicago NBD announced a $ 30 billion merger with Banc One Corporation of Columbus, Ohio . Bank One was also a leading issuer of credit cards through its First USA division. Following the merger, the company was renamed Bank One Corporation , headquartered in Chicago. The First Chicago and NBD names were retired in 1999. In 2004, Bank One Corporation merged into JPMorgan Chase & Co. and its subsidiary bank, then named Bank One, National Association, merged into JPMorgan Chase Bank , National Association. Chicago Loop The Loop

3990-493: The more upscale Magnificent Mile area to the north. It includes Chicago's former Marshall Field's department store location in the Marshall Field and Company Building ; the original Sullivan Center Carson Pirie Scott store location (closed February 21, 2007). Chicago's Downtown Theatre District is also found within this area, along with numerous restaurants and hotels. Chicago has a famous skyline which features many of

4060-435: The name "the Loop" is disputed. Some sources claim it first referred to two cable car lines that used a circuit–constructed in 1882 and bounded by Van Buren Street, Wabash Avenue, Wells Street , and Lake Street –to enter and depart the downtown area. Other research, however, has concluded that "the Loop" was not used as a proper noun until after the 1895–97 construction of the Union Loop used by 'L' trains, which shared

4130-473: The name of the geographical location. Illinois law did not permit the merger of most of the acquired banks into the First National Bank of Chicago until as late as 1993. To strengthen its credit card business, First Chicago acquired Delaware-based Beneficial National Bank USA in 1987 and renamed it FCC National Bank. First Chicago once again began to suffer from the quality of its loan portfolio in

4200-480: The north Chicago-based Ravenswood Financial Corp. for $ 55.1 million. Ravenswood Financial's only bank was renamed First Chicago Bank of Ravenswood. First Chicago also acquired the Winnetka -based Winnetka Bank for $ 21.6 million in stock. In 1993, First Chicago acquired Lake Shore Bancorp, another Chicago-based bank holding company, $ 323 million. Most of the acquired banks were named First Chicago Bank of followed by

4270-425: The parking of any vehicle between 7 and 10 a.m. and 4 and 7 p.m. on a street used by streetcars; approximately 1,000 violators of this law were arrested in the first month of the ordinance's enforcement. The La Salle Hotel 's parking garage was the first high-rise parking garage in the Loop, constructed in 1917 at the corner of Washington and LaSalle Streets and remaining in service until its demolition in 2005. In

SECTION 60

#1732884166977

4340-429: The same route. In what is now the Loop, on the south bank of the Chicago River near today's Michigan Avenue Bridge , the United States Army erected Fort Dearborn in 1803, the first settlement in the area sponsored by the United States. When Chicago was initially platted in 1830 by the surveyor James Thompson , it included what is now the Loop north of Madison Street and west of State Street. The Sauganash Hotel ,

4410-670: The tallest buildings in the world as well as the Chicago Landmark Historic Michigan Boulevard District . Chicago's skyline is spaced out throughout the downtown area. The Willis Tower , formerly known as the Sears Tower, the third tallest building in the Western Hemisphere (and still second-tallest by roof height), stands in the western Loop in the heart of the city's financial district, along with other buildings, such as 311 South Wacker Drive and

4480-606: The team, led by John Canning Jr. would spin out of First Chicago to form private equity firm Madison Dearborn . Midwestern private equity firm, Primus Capital was also founded by First Chicago private equity alumni. First Chicago began to expand for the first time into the northwest suburbs of Chicago with the acquisition of the Arlington Heights -based First United Financial Services, a bank holding company with five banks, in 1987. The following year, First Chicago entered DuPage County by acquiring Gary-Wheaton Corp., another bank holding company. In 1989, First Chicago acquired

4550-428: The then new National Bank Act . Over the years, the bank operated under several names including The First National Bank of Chicago and First Chicago NBD (following its 1995 merger with the former National Bank of Detroit ). In 1998, First Chicago NBD merged with Banc One Corporation to form Bank One Corporation , today a part of Chase . On July 1, 1863, banker Edmund Aiken and his partners invested $ 100,000 to found

4620-420: The western half is part of the 2nd district, represented by Democrat Dennis Deer . In the Illinois House of Representatives the community area is roughly evenly split lengthwise between, from east to west, Districts 26, 5, and 6, represented respectively by Democrats Kambium Buckner , Lamont Robinson , and Sonya Harper , with a minuscule portion in District 9 represented by Democrat Lakesia Collins . In

4690-421: Was a hodgepodge of various systems which had resulted from the different municipalities that Chicago annexed in the late 19th century. The implementation of the new street system was delayed by two years in the Loop to allow businesses more time to acclimate to their new addresses. Several streets in the Loop have multiple levels , some as many as three. The most prominent of these is Wacker Drive , which faces

4760-430: Was active in the sale of War Bonds during World War II . During the 1950s and 1960s the First expanded both in the Midwestern US as well as abroad, opening offices in London (1959), Tokyo (1962) and later Beijing (1980). In 1969 the bank was reorganized as the primary subsidiary of the new First Chicago Corporation , a newly formed bank holding company. First Chicago was used as a brand name starting in 1969 and

4830-401: Was the fourth largest employer of residents at 9.4 percent while Public Administration was the fourth largest for Loop employees at 13 percent. Administration was the fifth largest sector for both groups, at respectively 6.9 and 7.3 percent. The area has long been a hub for architecture. The vast majority of the area was destroyed by the Great Chicago Fire in 1871 but rebuilt quickly. In 1885

4900-416: Was while part of the 1st ward that it was represented by the Gray Wolves. The area has not had a Republican alderman since Francis P. Gleason served alongside Coughlin from 1895 to 1897. (Prior to 1923, each ward elected two aldermen in staggered two-year terms). In the Cook County Board of Commissioners the eastern half of the area is part of the 3rd district, represented by Democrat Jerry Butler , while

#976023