Chicago’s monthslong, bitterly contested battle over a proposed real estate transfer tax ended in an apparent victory for the commercial real estate industry after voters rejected a tax that would have increased taxes on property sales over $1M Tuesday. Though the Associated Press had not yet called the result as of 10 p.m., the measure appeared set for defeat, with the vote count at 54% to 46% with 96% of the vote reported and referendum supporters all but conceding defeat. 
The projected result is a major win for CRE players still struggling to get a handle on rising vacancy rates, a tight capital market and a national image problem scaring away skittish investors.Mayor Brandon Johnson and his allies, who put the “ Read the full story here. | 
