Illinois Policy Podcast

Thinking of buying or selling a home in Illinois? From sky-high property taxes to confusing new commission rules, navigating the real estate market is tougher than ever.

Expert real estate agent Kati Spaniak joins us to break down the current state of housing in Illinois and across the country. We discuss how local building regulations, rising property taxes, and the state's pension crisis are squeezing homeowners and preventing new development. Discover what the recent real estate commission lawsuits actually mean for buyers and sellers, and why policymakers need boots on the ground to fix the massive inventory shortage.

There is an "endless appetite" for spending in Springfield, but who is actually paying the bill? Former Deputy Republican Leader Tom Demmer pulls back the curtain on the chaotic, high-stakes game of the Illinois state budget on the latest episode of the Illinois Policy Podcast.

As Governor Pritzker prepares his annual budget address, Illinois faces a potential structural deficit. Despite failed attempts at a progressive income tax, state spending continues to rise, driven by pension liabilities and Medicaid expansion. This episode analyzes the General Revenue Fund (GRF), the Commission on Government Forecasting and Accountability (COGFA) projections, and the economic impact of having the nation's highest corporate tax rates. We discuss the need for a spending cap, the reality of outmigration, and fiscal reforms needed to stabilize the Illinois economy.

Is Chicago in an economic death spiral or an undervalued investment opportunity?

In this episode, we sit down with investor and former corporate lawyer Stu Loren to analyze the hard data on Chicago's economic trajectory. The findings are eye-opening: the average Chicago worker is effectively 10% poorer today than they were five years ago, and the city is growing at a fraction of the rate of Sun Belt competitors like Austin and Nashville.

But the conversation takes an unexpected turn. Despite the challenges, Stu makes a compelling contrarian case that Chicago's economic struggles may have created a rare buying opportunity. With emerging strengths in nuclear power, artificial intelligence infrastructure, and logistics, Chicago has the fundamentals to stage a major comeback—if city leadership can implement the right reforms.

We dig deep into the numbers behind Chicago's pension crisis, examine what the data really says about public safety, break down the high-stakes Chicago Bears stadium standoff, and expose the massive inefficiencies plaguing Chicago Public Schools.

Whether you're a Chicago resident, business owner, investor, or just someone interested in urban economics and public policy, this episode delivers the data-driven analysis you won't find anywhere else.

Is Chicago a buy, sell, or hold? Listen now to find out.

Chicago and Illinois are dedicating nearly a third of their revenues just to pensions and retiree benefits — starving public safety, infrastructure, and basic services. In this episode, JPMorgan market strategist Michael Cembalest breaks down the real numbers behind Illinois’ pension crisis, from unfunded liabilities to 911 response times and outmigration.

Chicago is facing record outmigration, failing schools, and rising taxes.

In this debut episode, Paul Vallas—former Chicago Public Schools CEO and 2023 mayoral candidate—joins us to break down why families are leaving Chicago, how the Chicago Teachers Union controls city policymaking, the real state of crime and safety, and how things could have been different.

Listen now and subscribe to the Illinois Policy Podcast for honest conversations about Illinois’ future.

00:00 – Chicago’s Crisis: Crime, Taxes, Schools
00:41 – Welcome to the Illinois Policy Podcast
01:07 – Introducing Guest: Paul Vallas
01:25 – What Could Have Been Different?
02:03 – Chicago’s Public Safety Problem
03:17 – Housing & Development Failures
04:03 – Springfield: Missed Opportunities
06:00 – Teachers Union’s Grip on Chicago
07:19 – CPS Staffing & Spending Issues
09:22 – Why Families Are Leaving Chicago
12:03 – How Schools Were Reformed in the Past
14:01 – Local Control and Magnet Schools
15:52 – Lowering Education Standards
18:22 – Attacks on Testing & Accountability
20:03 – Charter and School Choice Options
22:16 – Failing “Sustainable Community Schools”
24:19 – How Unions Block Real Options for Families
25:13 – Public Safety: The Reality vs. Rhetoric
27:18 – Schools, COVID, and the Crime Spike
28:39 – How Prosecutors Changed Crime Trends
29:39 – Domestic Violence on the Rise
30:39 – Why Crime is Underreported
33:30 – Chicago as a “Sanctuary City for Criminals”
35:09 – Police Staffing and Crime Correlation
37:14 – CTA Safety and Ridership Decline
39:11 – Chicago’s Future Forecast
41:07 – The Three Financial Crises Facing the City
42:51 – Who Will Lead Chicago Next?
44:23 – Cook County Politics & Preckwinkle’s Influence
45:46 – Closing Thoughts with Paul Vallas