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December 18, 2024

Chicago-Area Developer Gets Almost 13 Years In Prison For Embezzling Millions From Failed Bank

A federal judge sentenced a real estate developer to almost 13 years in prison for his role in conspiring to embezzle millions over more than a decade from the failed Washington Federal Bank for Savings in Bridgeport.

Chicago-Area Developer Gets Almost 13 Years In Prison For Embezzling Millions From Failed Bank

Park Ridge native Marek Matczuk, received the sentence Monday after being found guilty of illegally pocketing almost $6M from the shuttered bank, according to the Chicago Sun-Times.The judge also ordered Matczuk to pay close to $6M in restitution to the Federal Deposit Insurance Corp., which still…

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This Week's Chicago Deal Sheet: Advocate Health Care Plans To Invest $1B In South Side, Quantum Campus

Advocate Health Care announced plans to invest $1B over the next 10 years in a new hospital, 10 outpatient locations and other initiatives across the South Side.

This Week's Chicago Deal Sheet: Advocate Health Care Plans To Invest $1B In South Side, Quantum Campus

The hospital will be on the former U.S. Steel South Works site where a quantum campus is taking shape near the lakefront. It replaces the current Advocate Trinity Hospital with a $300M new development. The 53-bed hospital will be on 23 acres on the northern end of the…

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The Pritzker Military Archives Center, An Innovative Way To Honor American Service Members

PRESENTED BY:   Cyclone Energy Group
 
The Pritzker Military Archives Center, An Innovative Way To Honor American Service Members

The new Pritzker Military Archives Center in Somers, Wisconsin, designed by award-winning architectural firm Jahn, is meant to challenge the notion that historical and cultural preservation has to take place in a dark, concrete box.Set on a 17-acre backdrop of farmland and landscaped gardens, the 45K SF archive center has…

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South Side Quantum Campus Gets City Council Green Light As IBM Announces It Will Make Site Its Home

South Side Quantum Campus Gets City Council Green Light As IBM Announces It Will Make Site Its Home  

Computing giant IBM announced Thursday it will set up shop on a sprawling quantum campus at the former U.S. Steel South Works site, one day after Chicago City Council approved a rezoning request for the project, setting the stage for a construction start early next year.

Gov. J.B. Pritzker announced that IBM plans to make the Illinois Quantum and Microelectronics Park its permanent home with the construction of the National Quantum Algorithm Center on the South Shore site.

The center will be fueled by IBM’s modular quantum computer and aims to advance the exploration of quantum-centric supercomputing across industries, the governor said in a press release. “We’re making Illinois the global quantum capital and the center for job growth in the quantum industry — a true center of innovation with…

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Clouds Lie Ahead For Solar Investment Under Trump. But Skies Could Clear For Hybrid Energy Policy

Clouds Lie Ahead For Solar Investment Under Trump. But Skies Could Clear For Hybrid Energy Policy  

Over the past four years, the commercial solar industry has been on cloud nine as a wave of federal and state investment took the industry to new heights. 

President Joe Biden’s 2022 landmark clean energy bill, the Inflation Reduction Act, restored a 30% investment tax credit for solar energy systems installed between 2022 and 2032. It also introduced two bonus credits, each offering up to an additional 10%, for projects that meet specific criteria.

The boosts helped lead the commercial solar market to a record third quarter, driving 13% expected growth in 2024, according to the Solar Energy Industries Association. 

But an incoming presidential administration with unpredictable energy policy could plunge the burgeoning industry into darkness if it axes the federal tax credits instrumental to the sector’s growth or shifts federal investment priorities to nonrenewable energy.

“Solar has been on a major growth trajectory as a percentage of our nation's electrical generation capacity,” said Alexandra Cooley, chief investment officer and co-founder of Nuveen Green Capital.  Industry stakeholders who spoke to Bisnow said the future is uncertain given President-elect  Donald Trump’s decidedly differing energy policies, with a…

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