Crain's Chicago Business, September 16, 2024

The winners on our 2024 Best Places to Work list blend thoughtful benefits, strategies and out-of-office policies to deliver best-in-class experiences for their employees. | PAGE 11

Labor wary as Johnson eyes $1B budget gap

The mayor has no easy options to raise revenue needed to close a shortfall, and spending cuts won’t come without a fight

By Justin Laurence

MICHAEL FASSNACHT

How optimism is a crucial yet frequently overlooked pillar of long-term success.

Facing a nearly $1 billion budget hole for next year, Mayor Brandon Johnson is considering whether to pare the city’s workforce to save on personnel costs, a move that could draw the ire of organized labor and allies on the City Council.

Johnson recently revealed the city must close a $223 million deficit by the end of the year, driven by a decreased share of state corporate taxes and a $175 million pension payment the city unsuccessfully tried to force onto Chicago Public Schools.

That’s on top of an anticipated $982.4 million shortfall in the 2025 budget.

To immediately save costs, the city implemented a citywide hiring freeze as of Sept. 9.

It’s unclear how much the move will save because the city is already projecting to spend $44.6 million less on personnel costs in 2024 than budgeted because of lag times from when a position opens to when it’s filled.

The mayor has not ruled out going back on a campaign pledge when it comes to raising property taxes, which is always a tough sell in the City Council. But finding savings on the spending side of the ledger may not be any easier.

Without easy revenue sources, Johnson has said more drastic personnel options are on the table, including eliminating vacancies, furloughs for city workers and, if all else fails, what one member of the City Council described as the “L word”: layoffs.

“The L word is a bad word. Layoffs, that’s a very, very bad

CRAIN’S LIST

word,” said Ald. Michael Rodriguez, 22nd, who chairs the Workforce Development Committee. “Not on the back of city workers do we balance this budget.”

Rodriguez is open to looking at eliminating existing vacancies in the budget, but said, “I’m not interested in taking a hatchet to city services.”

Past budget fights

The city has faced down large deficits before, and previous mayors — who didn’t ride into office touting their union organizing bonafides — have found it difficult to close gaps by cutting the city’s workforce.

The Chicago Federation of Labor successfully fought back against former Mayor Lori Lightfoot’s initial proposal in 2021 to lay off 330 city workers when the

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James E. Delany

The power of optimism — and faith in yourself

By Michael Fassnacht

Michael Fassnacht is former CEO of World Business

Chicago and is now chief growth officer at Clayco in Chicago.

Over the last few months I shared the first  of "50 Career Insights for Gen Z and Millennials” as part of my project "Beyond the Status Quo."  Since then, I’ve gotten lots of feedback and perspectives from young professionals who appreciate the directness and practicality of these pieces of advice. Today, I'll delve into three more insights that I believe are crucial for building a fulfilling and dynamic career:

Being optimistic is powerful

In discussions about building successful careers, the focus often falls on accumulating professional experiences and academic qualifications. However, an equally crucial yet frequently overlooked pillar of long-term success is authentic optimism. Optimism isn't just a natural disposition; it's a deliberate choice in how we approach each moment in our professional lives. It’s a truly intentional act that can unlock the power of optimism in many professional interactions.

For me, optimism isn't just a surface-level attitude; it's a deep-seated belief in our ability to shape the atmosphere of any gathering, inspire others to reach their full potential, and contribute to a brighter future for everyone we meet. The most success-

ful professionals don't rely on blind optimism but practice what I call "smart optimism" — an optimism grounded in data, analysis, and strategic foresight. In the professional realm, optimism isn't just a mindset; it's a calculated outlook based on research and a keen awareness of future possibilities.

Overcome imposter syndrome

Young professionals often find themselves admiring more experienced colleagues for their confident demeanor and apparent mastery of complex situations accumulated over decades. While it's true that wisdom and knowledge grow with time, there's also an aspect of pretense woven into many long careers.

Paylocity makes a $325M play to expand its reach beyond HR

By John Pletz

Payroll-software maker Paylocity is making a push into expense management with a $325 million acquisition.

The Schaumburg-based company said it’s buying Airbase, which makes software for handling accounts payable automation, expense management, corporate cards and procurement capabilities. Airbase, founded seven years ago, is based in San Francisco and has 300 employees.

Paylocity, which is expected to do about $1.5 billion in sales this year, has about 6,400 employees. The company, which has roughly $400 million in cash, says it will pay for the acquisition from a revolving credit line. Paylocity said

Correction

the purchase would not affect its $350 million stock-buyback program.

Paylocity went public a decade ago at $17 per share, rising steadily before soaring during the COVID-19 pandemic to a peak of $305.75 per share Nov. 1, 2021.

The stock declined during the 2022 tech correction that hammered software-as-a-service companies before Paylocity shares rebounded to about $265 in October 2022.

“The move marks a significant move for Paylocity into the office of the CFO, with an added presence in procurement, accountspayable automation and expense management,” Brian Peterson, an analyst at Raymond James, wrote in a note to clients.

Successful professionals have honed the art of overcoming imposter syndrome and projecting confidence beyond their actual knowledge, using it as a tool to mask gaps in their understanding. Most of us have had many moments where we pretended to have more knowledge than we possessed throughout our careers. Sometimes, it's a necessary tool for navigating unexpected challenges, gaining leverage in negotiations, or simply buying time in high-pressure situations. For young professionals, recognizing that a bit of pretense is OK — and learning to master it — is crucial. We all feel like imposters sometimes; it’s time to face and overcome it.

You can’t change the past

It may sound simple, but it's a hard truth to live by: The past happened, and nothing we do, feel, or think can change it. Spending an excessive amount of time on reliving the past is one of the biggest distractions and energy drains that humans can pursue. Furthermore, it can be emotionally and personally destabilizing, hindering us from being our best selves in the present.

I don’t suggest simply forgetting the past and disregarding its lessons or the enjoyment of beautiful memories. However, letting go of the past is just as crucial in the professional realm as it is in our personal lives. I've heard too many young professionals express re-

Optimism isn’t just a surface-level attitude; it’s a deep-seated belief in our ability to shape the atmosphere of any gathering, inspire others to reach their full potential and contribute to a brighter future.

grets about past career decisions, and then engage in deep, unproductive self-reflections. What truly matters is the concept of "Forward." What will you do differently next time? What have you learned from your experiences? Will you be better prepared moving forward? We all experience failure and setbacks on our professional journeys; it's part of the process and part of life. The hallmark of a successful business leader lies in their ability to set aside the past, focus on the present, and march confidently forward.

My ongoing and ever-evolving project, "Beyond the Status Quo," which offers career advice for young professionals, is continuously shaped by the conversations I have with both seasoned leaders and aspiring professionals. Many experienced leaders express difficulty understanding the needs and perspectives of younger workers, while younger professionals seek meaningful guidance and growth. What they value most is constructive, open advice — not patronizing or judgmental comments. I hope this column reflects that intention.

O’Hare concessions contracts put out for bid

Lucrative deals to operate restaurants, bars and shops will be carved up into smaller packages, new City Hall documents reveal | By

The city of Chicago is finally putting out for bid the concessions contract for O’Hare's domestic terminals, one of the most lucrative deals at the airport.

But the management and operation of more than 100 restaurants and shops in Terminals 1 and 3 will look very different. Today those deals are largely held by just two vendors — HMSHost and Hudson Group. But a Department of Aviation website shows 20 individual contracts up for bid, as well as another deal to operate duty-free shops.

Over the years, elected officials have toyed with the idea of splitting up the O’Hare domestic concession contracts to encourage

John Pletz

This has been a long time coming. It’s exciting. There’s opportunity for all of us.”

Ezequiel “Zeke”

Flores, CEO of Chicago-based Flying Concessions See O’HARE on Page 32

Pritzker pushes for more EVs in Illinois, but demand slows

Higher prices and fewer choices are dampening sales growth here

By John Pletz

Electric vehicle sales are decelerating in Illinois, as car buyers slow their roll toward electrification.

And that's casting a shadow over Gov. J.B. Pritzker's ambitions to make Illinois not only a center of EV manufacturing but a place with more than 1 million EVs on the road by the end of the decade.

New EV registrations this year averaged 2,457 per month through August, or about 12% less than during the same period a year ago, according to the Illinois secretary of state.

EVs made up about 5.9% of all new-car registrations in Illinois through the first six months of this year, compared with 6.5% last year, according to S&P Global Mobility.

There were 111,107 EVs registered in Illinois as of midAugust, according to the Illinois secretary of state. The total number of EVs is still growing, up 21% year-to-date. But it’s increasing more slowly than before.

The amount of new registrations in Illinois was 9% lower in the first half of 2024 than a year ago, while overall U.S EV registrations grew 7%, according to S&P Global Mobility. But the numbers vary widely by state. Illinois, the sixth-most populous state, has the eighth-highest total sales. And sales in California, which account for one-third of U.S. EV sales, were flat, as they were in Texas, New York and New Jersey.

“People need to be a little more patient,” says Stephanie

U of C tech bigwig leaving for NYU

Juan de pablo was a key player in the university’s quantum efforts and collaborations

By John Pletz

Juan de Pablo, a senior science and technology administrator at the University of Chicago, is leaving to become dean of engineering at New York University.

De Pablo leads U of C’s science and innovation strategy efforts, as well as its management of Argonne and Fermi national laboratories. He also has oversight of the Polsky Center for Entrepreneurship & Innovation, as well as the university’s campuses and

centers abroad in London, Hong Kong, Beijing, Delhi and Paris.

He leaves at the end of the month. A chemical engineer by training, de Pablo joined U of C a dozen years ago when the university launched the Pritzker School of Molecular Engineering, which has emerged as a highprofile player in quantum technology and immuno-engineering.

He’s been a key player in the U of C’s efforts to raise its profile in research and technology under former President Robert Zim-

mer. In 2018, he was appointed vice president for national labs and later added oversight of the university’s technology, science and innovation efforts.

“People respected him for who he was as a scientist,” says John Flavin, a Chicago life sciences entrepreneur who previously was associate director for entrepreneurship and innovation at the university. “He also was a coalition builder who was relentless.”

De Pablo, whose broad portfo-

Brinley, an automotive analyst at S&P Global Mobility. “It’s not a crisis situation. As long as (sales) are not collapsing, we’re heading in the right direction.“

A big reason for slower growth in Illinois this year: New registrations of Teslas, which is the top-selling brand of EVs in Illinois and accounts for more than half of the state’s unit sales, dropped 18% in the first six months from the year-ago period. The number of new Rivian registrations fell slightly because of a monthlong shutdown of its factory in downstate Normal for retooling in April ahead of the launch of a new model.

The EV lineup still is relatively limited, and prices remain relatively high compared with traditional internal-combustion models that are produced at larger scale. Chevrolet, the second-most popular EV brand in Illinois, dropped the Bolt, a modestly priced model. New Chevrolet EV registrations fell by one-third in the first half of the year, according to S&P Global Mobility data.

Governor's target

If the slower pace continues, however, it will make it harder for the Pritzker administration to achieve its aim of significantly boosting EV ownership in Illinois while also touting the state's prowess in EV manufacturing.

"Despite a lower percentage this year on a year-over-year basis, EV sales have doubled every year over the last three years," the governor's office notes. "These trends in Illinois continue to mirror national and global trends as the market moves beyond early adopters.

"More manufacturers are entering the EV space, increasing availability and affordability,

See EV on Page 32

lio also includes partnerships inside and outside the university as well as federal government relations, was seen as a driving force in getting the U of C to collaborate more closely with longtime rivals Northwestern University and the University of Illinois Urbana-Champaign on big regional and statewide economic development projects, such as the Chan Zuckerberg biotech research hub and the new quantum-computing campus in Chicago.

“He provided great leadership, along with his counterparts from UIUC and Northwestern, during the CZ Biohub proposal selection process,” says Rashid Bashir,

See BIGWIG on Page 30

Juan de Pablo UNIVerSItY OF CHICAGO/JeAN LACHAt

As popular obesity drugs reshape the pharma world, Eli Lilly eyes AbbVie’s wheelhouse

the North Chicago drugmaker could have a new foe — or frenemy — in a fellow pharmaceutical firm exploring the world of immunolog y to try to find wider uses for its GLp-1 medicines |

“Blockbuster” used to be the word to describe what was once the world’s best-selling drug, AbbVie’s Humira, but now it’s more often used in connection with the wildly popular set of obesity drugs that came on the scene this year.

Now, one of those drugs, Eli Lilly’s Zepbound, is being studied for use as an anti-inflammatory treatment for psoriasis, a condition that North Chicago-based AbbVie treats with Humira and other anti-inflammatories Skyrizi and Rinvoq.

The prospect of Zepbound moving into immunology, along with other similar drugs finding uses in that arena, could pose a threat to AbbVie’s plans to stake its future on its up-and-coming immunology drugs.

Lilly will begin recruiting this fall for trials to test Zepbound in tandem with psoriasis drug Taltz to see if the combination boosts effectiveness, Lilly Chief Scientific Officer Daniel Skovronsky told Bloomberg. The Indianapolis-based drugmaker said it is also exploring combination studies with Zepbound in inflammatory bowel disease, another immune disorder.

Taltz, an interleukin-17A antagonist drug, is also indicated for psoriatic arthritis, ankylosing spondylitis and active nonradiologic axial spondyloarthritis.

By Jon Asplund

For Lilly, the hope of an immunology role for its obesity drug means it can follow up initial success.

“The challenge at Lilly has not been a lack of great moments, it’s been the continuity between them and avoiding these kinds of valleys in innovation that happen,” Skovronsky said. “Im-

munology is one of the answers to what’s next.” Drugs like Lilly’s Zepbound and Mounjaro, along with Novo Nordisk’s Ozempic and Wegovy, known as GLP-1 receptor agonists, are already being put to use for obesity and diabetes. And studies indicate GLP-1s’ weight loss properties could be used to

treat heart failure and sleep apnea and even to lessen the effects of COVID-19.

And they have been shown to reduce inflammation in patients with diabetes and obesity, though the trial of Zepbound for psoriasis would be among the first large-scale testing of an inflammation indication.

With a host of potential new indications for GLP-1 drugs to tackle, AbbVie’s inflammation drugs may see a new kind of competitor — or maybe a collaborator. Lilly’s Skovronsky last month said the drugmaker intends to look at other drug combinations to explore the uses of GLP-1 medicines, and that such combinations may be the next frontier in autoimmune diseases. In fact, AbbVie has expressed interest in combining its anti-inflammatory drug Skyrizi with another compound to drive efficacy even higher.

According to Bloomberg Intelligence estimates, sales of drugs for inflammatory conditions could top $117 billion in 2028.

In the second quarter of 2024 alone, AbbVie’s overall immunology portfolio revenue grew 3.5% on an operational basis to $6.97 billion, with global Humira net revenue of $2.81 billion; global Skyrizi net revenue of $2.73 billion; and global Rinvoq net revenue of $1.43 billion. Skyrizi is approved in the U.S. and the European Union to treat psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis. Rinvoq is approved for ankylosing spondylitis, atopic dermatitis, axial spondyloarthritis, Crohn’s and giant cell arteritis. Bloomberg contributed to this report.

SIU Carbondale sees enrollment gains, bucking trends

the school’s largest bump in 33 years is a bright spot in the higher education landscape that continues to see declines

By Brandon Dupré

Southern Illinois University

Carbondale reported enrollment gains for the second year in a row and its largest bump in 33 years, a positive sign for an industry facing years of continued enrollment declines.

SIUC’s overall enrollment for fall 2024 grew 3.8% to 11,790, or 431 more students than last year. The university said it's the highest overall boost in the number of students since 1991.

It's a bright spot in an education landscape in Illinois that has been hurting. Years of declining enrollments, combined with a decade-plus of state underfunding, have left state universities staring down gaping budget deficits with no quick and easy fixes in sight.

On top of that, colleges, particularly in the Midwest, are facing what industry observers call the demographic cliff: years of shrinking high school graduates

and out-migration to out-ofstate colleges coming at a time when higher education costs are up and federal COVID-19 aid is disappearing.

Yet SIUC has been able to reverse the devastating trend for now. “Just because you see a cliff doesn’t mean you have to fall over it,” said Wendell Williams,

associate vice chancellor for enrollment management. To reverse course, the school has been targeting community college students, continued re-

cruiting throughout the year (not just in the fall), and expanded the amount of students receiving free college tuition by increasing the threshold for qualifying family incomes from under $63,575 to under $103,040.

“We’ve got the word out to tell students that our college is not only accessible but affordable,” Williams said.

SIUC saw its peak enrollment in 1991 with 24,869 students; its fall 2024 enrollment is a 52% decline from that peak. Last year, the school projected it would have a $14 million deficit in 2024, but a school spokesperson told Crain’s it currently does not have a general operating budget deficit. Public data on its fiscal year has not yet been released.

Other schools haven’t fared as well. Northern Illinois University recently reported a $31.8 million deficit for fiscal year 2024, while Western Illinois University is laying off 124 faculty and staff to help close a $22 million deficit.

Eli Lilly’s Zepbound is being studied for use as an anti-inflammatory treatment for psoriasis, a condition that North Chicago-based AbbVie treats with Humira, Skyrizi and Rinvoq. | BLOOmBERG

Southern Illinois University in Carbondale | WIKImEDIA COmmONS USER DEVOUt1145

chicagosfoodbank.org/crains

How housing shaped race in the 20th century

A UChicago professor’s book explores how mass homeownership was used by government, the real estate industry and others as a tool to reinforce the concept of whiteness, with ramifications that are still ongoing

By Dennis Rodkin

If some of the signs of a good neighborhood in the 21st century include the presence of pickleball courts, breweries and dog parks, the main signifier of neighborhood quality in the 20th century was race, a University of Chicago professor argues in her recent book.

“Whiteness became an amenity as important as having a beautiful park nearby,” Adrienne Brown, an associate professor in English and race, diaspora and indigeneity, told Crain’s. “Amenities are directly related to the value of a home.”

In the minds of government and real estate leaders, keeping Black people out of a neighborhood or suburb, Brown says, “was part of controlling its future value. You can maintain the value of your home by maintaining the level of whiteness of the whole neighborhood.”

The ramifications ripple into this century, with documented evidence of lower rates of Black homeownership and lower net worth for Black households.

But Brown adds another ramification — the role that keeping Black families out of certain neighborhoods played in reinforcing the concept of whiteness as a race. She describes advertising and legislation around homeownership in the mid-20th century as sending the message that “if you own your own home, you are the model white citizen at the

center of modern American life,” as she put it on a University of Chicago podcast in August.

Ethnic groups who were not widely considered white by Americans, such as people of Italian, Slavic or Irish descent, knew that “if you invest and buy your home, homeownership could stabilize your identity” as white, she says.

In March, Stanford University Press published Brown’s book, "The Residential is Racial." In it, Brown writes that the nation’s earliest promoter of mass homeownership, President Herbert Hoover, combined the laudable goal of property ownership with an em-

phasis on Anglo-Saxon pride, a toxic mix that went on to pervade real estate for decades.

Hoover wasn’t the first, Brown writes. The notion that “whites have a privileged relationship to property, in that they long for it and have a knack for caring for it,” goes back to the 1600s, she shows in the book.

Brown cites John Locke, writing in the 1600s, and David Hume, writing in the 1700s, as promulgating “this idea that anyone who’s not white is not good at caring for property. That only (white) people have this deep yearning to own and care for property," she tells Crain's.

But Hoover, seeking to correct the Depression-era flood of foreclosures, was in a position to enshrine the idea in a federal bureaucracy, Brown says. Along with the historical forerunner of today’s National Association of Realtors, appraisers and real estate developers, federal housing agencies accepted the idea that Black neighbors were bad for housing values. Racially restrictive covenants written into property deeds “became a source of civic pride,” Brown says, until the U.S. Supreme Court ruled them unenforceable in 1948 and the Fair Housing Act of 1968 made them

illegal.

If whiteness was an amenity, Brown says, “Blackness was associated with illiquidity,” or the poor performance of an investment.

“It becomes kind of a selffulfilling prophecy,” Brown says. White neighborhoods thrived in part because of the “comfort that comes from knowing your home’s value will go up.” This led to an unprecedented run-up in household wealth in white households in the decades after World War II.

The other side of the coin is Black residents' experience of exclusion, with their housing choices limited to certain neighborhoods where financing was often confiscatory, such as with contract buying.

That, too, rings down through generations, not only in terms of unrealized household wealth but in a sentiment that “the system intentionally works against me,” Brown says.

Because she’s an English professor, Brown turns in part to the literary work of Black authors to find what they were seeing in the tightly limited circumstances of Black real estate in the mid-20th century.

In New York, James Baldwin writing about Harlem, and in Chicago, Gwendolyn Brooks writing about Bronzeville both saw similar things, Brown says: “Don’t come here to learn something about Black people; come here to learn something about the structures that created the way we live.”

In Ravinia lawsuit, both sides bury the hatchet

Highland park’s massive music venue sued the suburban brewery last year over allegations of trademark infringement

By Jack Grieve

Ravinia Brewing Company and Ravinia Festival reached a settlement agreement nearly a year after the festival sued the beer maker with allegations of trademark infringement.

The brewing company will roll out a new name and new brand, according to a joint statement from the two parties. The festival will be "providing assistance during the transition," the statement said.

Ravinia Festival, the 88-yearold nonprofit behind Highland Park's massive music venue and annual summer concert series, filed a lawsuit in federal court in October 2023 alleging that the suburban brewery was infringing on its long-held trademarks on the Ravinia name.

"Ravinia" is the name of the small North Shore business district where the festival and brewery operate. The festival has owned the "Ravinia" mark as it relates to entertainment and

restaurant services since 2011 and owned rights to the "Ravinia Festival" mark even longer.

The brewery applied for the "Ravinia Brewing" mark in 2015 and officially registered its business with the name in 2018.

That's when negotiations over the brewery's naming rights began between the two parties. The festival agreed in 2018 not to object to the brewery's use of the Ravinia name provided it adhered to specific guidelines to minimize potential customer confusion.

The festival later rescinded the agreement and alleged the brewery "acted blatantly in disregard of the guidelines." The allegations in the 2023 suit include that the brewery failed to adhere to an agreed upon requirement that the words "Brewing Company" be displayed in a specific size relative to "Ravinia" on all of its branding materials.

Other allegations include that the brewery hosted musical performances without a disclaimer

making clear that it was not associated with the festival; a complaint that the brewery used marketing colors associated with the festival on a music-themed beer label; and

a claim that the brewery posted images to its social media accounts promoting its products on the Ravinia Festival grounds.

The two parties exchanged jabs

in court and in public over the past 11 months. The festival accused the beer makers of not taking their concerns seriously. The brewery quipped, "Level heads will prevail."

Now, it appears the neighboring businesses have mended relations. "We’ve reached a mutual agreement that puts our disputes behind us and enables us to both move forward," read the joint statement announcing the settlement. "We are grateful to have been able to resolve our differences in a way that respects both of our interests. We look forward to pursuing our respective paths forward and focusing our efforts on our shared commitment to the community."

The brewery does not yet have a new name to announce, co-owner Kris Walker wrote to Crain's. "Our focus now is on moving forward and ensuring that we can create a successful future path for our team, our business and our community."

Ravinia Festival sued Ravinia Brewing in October 2023 alleging that the suburban brewery was infringing on its long-held trademarks. COURtESY OF RAVINIA FEStIVAL

Do you really need an accelerator to launch

Back in 2005, there was born a phenomenon that has almost become a norm today.

Y Combinator, the first tech accelerator program and the name that has become synonymous with startup creation and launch, had a simple yet groundbreaking, model: Invest a small amount of seed funding in a batch of startups in exchange for equity and provide intensive mentorship and resources over a three-month period. The program culminated in a Demo Day, where startups pitch to a room full of investors, and the rest is history. Household names like Airbnb, Dropbox, Reddit and Instacart are all products of this prestigious program.

Fast-forward to 2024: The U.S. hosts more than 150 active accelerator programs across various domains. Historically, accelerators have been seen as essential for startups to gain credibility and investment. However, there's growing debate over whether participation in an accelerator is necessary for success. There are a few key considerations for startups evaluating this decision.

The purpose of joining an accelerator: Some soul-searching is in order before you decide to join

an accelerator, and you need to be clear about the reasons to join one. Is it for visibility and credibility, or is the investment crucial for reaching the next milestone? Understanding your specific needs will not only help you choose whether or not an accelerator is right, but it will also help you choose the right program. Some startups may benefit more from specific resources, while others may not fully utilize everything offered.

Accelerator offerings: It's im-

portant to assess what an accelerator offers and matrix that with your startup's needs. Consider whether the program is domain-specific or general, whether it provides funding, and if there's a cost or it's free. Some accelerators charge fees, which might not be worth it unless they offer unique resources. Also, evaluate the program structure, mentorship, industry partnerships and in-kind resources like cloud credits or lab access, especially if your startup is in a hard tech or life sciences field. Go deep with your

questioning of the resources. For example, some accelerators offer cloud credits. It's always worth asking how many credits, as there are occasions where the accelerators offer minimal credits that could otherwise be accessed easily outside of the accelerator.

Stage of the startup: The stage of your startup is critical in deciding whether to join an accelerator. Early-stage startups may benefit more from certain accelerators, while growth-stage companies might need to focus on customer acquisition instead of spending time in a program. Additionally, check the eligibility criteria. Some accelerators prefer startups with an MVP or existing traction, making them unsuitable for companies at the idea stage.

Is it worth the equity? Accelerators can be time consuming and often require equity in return for participation. Carefully consider whether the benefits justify parting with precious equity. Outside of renowned accelerators like Y Combinator, the value lies in the specific offerings and the program's reputation. Weigh these factors before committing.

Ultimately, the decision to join

an accelerator rests with the startup. Participating in one doesn't guarantee success; it's the hard work, the right team and a strong product-market fit that truly drive growth. Whether you join a toptier accelerator or a niche program, your success will depend on what you put into the experience.

Advice for small businesses and entrepreneurs in partnership with the University of Chicago Booth School of Business.

Shyama Majumdar is interim executive director of Deep Tech Ventures at the Polsky Center for Entrepreneurship & Innovation at the University of Chicago.

EDITORIAL

Yet another week that Mayor Johnson would probably like us to forget about

In a Dec. 6 column headlined “Brandon Johnson and the terrible, horrible, no good, very bad week,” Crain’s Greg Hinz detailed one especially painful period for then-freshman Mayor Brandon Johnson.

You’ll recall it was the week when Gov. J.B. Pritzker’s administration called out the mayor’s team for housing Venezuelan migrants atop a toxic waste site. And the senior leadership of World Business Chicago quit their posts. And onetime Johnson ally Ald. Jeanette Taylor, 20th, declared progressives are “not ready” to govern Chicago.

Then came this past week, which is now a close runner-up for the honor of Johnson’s Worst Week Ever.

First there was news that the staffer responsible for building bridges with the City Council to advance the mayor’s legislative agenda, Sydney Holman, resigned on the heels of an office reshuffling earlier this month. Holman took the position last year shortly after Johnson’s first budget was approved and was immediately asked to oversee some of the mayor’s most tumultuous dealings with the City Council, including close floor votes where the mayor cast tie-breaking votes to call for a ceasefire in Gaza and to protect an ally, Ald. Carlos Ramirez-Rosa, 35th, from censure.

On Sept. 9, however, Holman bowed out rather than work within a newly hatched organizational chart that put her and her legislative team under the supervision of Kennedy Bartley, formerly a progressive

PERSONAL VIEW

It’s

Tactivist with close ties to the Chicago Teachers Union who is now Johnson’s deputy chief of staff.

Bartley’s elevation above the intergovernmental affairs and community engagement teams shook loose some dirt from her past, however, including her lobbying efforts on behalf of defunding the police and a podcast interview in which she referred to police as “fucking pigs.” Those past positions, as well as social media posts on the war in Gaza, prompted Bartley to embark on something of an apology tour, but against the backdrop of some of the Fifth Floor’s other PR mishaps, it may be a while before Bartley earns forgiveness.

As Ald. Brendan Reilly, 42nd, put it to Crain’s: “Calling the men and women who protect our city and the Chicago Police Department ‘f’ing pigs’ is a pretty hard statement to walk back.”

Council members have called for Johnson to fire Bartley immediately rather than continue to have her on the payroll alongside the law enforcement officers she disparaged. But Johnson has resisted their calls. This despite the sensitive nature of her new role, which now includes working with City Council members to get important things done — most notably solving a billion-dollar budget gap before Johnson is due to present his 2025 spending plan in October.

All of the above would have been bad enough if it wasn’t for the other brushfires

breaking out at City Hall at the same time. The Bartley kerfuffle managed to overshadow other downbeat news for the administration on the same day as the Holman resignation, as Johnson announced a citywide hiring freeze in an effort to limit spending and close the $223 million budget deficit for the current year. Days later, Johnson clarified that police and fire employees are exempt from that freeze. Even so, limiting hiring is a clear sign that the mayor is looking to cut personnel costs to rein in the spending side of the ledger, but deeper cuts to the city’s workforce could spark a fight with organized labor and labor-aligned representatives on the City Council.

And despite a months-long effort to in-

stall his close ally, Ald. Byron Sigcho-Lopez, 25th, as chair of the crucial and powerful Zoning Committee, Johnson was forced on Sept. 13 to back down, turning instead to the City Council’s longest-serving member, Ald. Walter Burnett, 27th. The seat has been open for roughly 10 months — ever since Ramirez-Rosa was forced to resign and apologize on the City Council floor for trying to block a colleague from entering a contentious meeting — and yet, Johnson has tenaciously clung to the idea of putting progressive firebrand Sigcho-Lopez into that role, well past the point when it was clear he was too radioactive to gain councilwide support.

The silver lining for business leaders in the Burnett move is that it places a development-friendly, moderate veteran of the council into the position of handling routine zoning changes as well as citywide policy affecting development and historic landmarks. But after a week like the one we just endured, that’s a dreadfully thin silver lining to cling to. And the drama that preceded the decision to go with Burnett rather than SigchoLopez only reinforces the impression that this is a Fifth Floor that values ideological purity above all else. Given the problems the city now faces — and the very real questions about how the mayor will fill a billion-dollar sinkhole in the upcoming budget — we need practical solutions, not doctrinal rectitude, from our leaders.

time to invest in emerging CPG brands again, Chicago

he last few years have been rough for emerging food and beverage companies as they try to grow in the consumer packaged goods industry. The pandemic’s disruptions were followed by much higher interest rates. Then tight money prompted many investors to close their wallets to brands seeking new capital.  With resources limited, many promising companies were unable to fund growth and instead hunkered down, seeking a path to profitability. Some closed. The irony of this situation is that consumer demand is soaring for the kinds of products many of these early-stage companies produce: a strong focus on wellness and environmental sustainability while providing the flavors and experiences that today’s eaters want.

Given the enormous growth potential of many of these startups, it is time to start investing in emerging CPG brands again. The golden age of food investing was not very long ago. Many of the Chicago

region’s groundbreaking betterfor-people-and-the-planet food brands grew into category leaders and then were purchased by big food companies.

Skinny Pop sold to Hershey ($1.6 billion), Vital Proteins sold to Nestlé Health Science ($1.5 billion), RXBAR sold to Kellogg ($660 million), Factor sold to Hello Fresh ($277 million), Frontera Foods sold to Conagra ($109 million), and Enjoy Life sold to Mondelēz ($81 million). With this level of activity, Chicago has truly been the leader in emerging food brand exits. Up-and-coming regional superstars, such as Chomps, Farmer’s Fridge, Nature’s Fynd, and Simple Mills, are the next tier of possible exits or IPOs.

The good news is that, despite the overall tightening of purse strings over the past few years, some Chicago investors have continued to provide capital to startups with good results.

Barrel Ventures was a pre-seed investor in Olipop, a functional beverage that is

leading a revolution in the soda industry. According to Bloomberg, Olipop is on track to hit $500 million in sales in 2024, double the amount the year before.

“We came into Olipop pre-seed and have come back in every round since,” said Nate Cooper, managing partner at Barrel Ventures. “It combines reduced sugar, fiber and probiotics with innovative flavors to truly disrupt the category. Categorydefining brands often arise from a strong ecosystem around them. Chicago in 2024 is as ripe an ecosystem as any in the world."

S2G Ventures, based in Chicago’s Fulton Market District, has a food portfolio that is one of the largest in the nation, with more than 20 CPG brands. They had previously restricted their activity to follow-ons of previous investments, but that has changed.

"It’s a great time to lean into CPG from my perspective, especially as it relates to brands seeking to drive positive environmental and human health outcomes,” said Chuck Templeton, managing partner at S2G, who founded the OpenTable

restaurant reservation site.

He added, “The potential for innovation in this space is immense and we believe there are many untapped markets that are ready for disruption. We are actively seeking food brands that have achieved some scale with high velocities and strong management. By investing strategically now, we have an opportunity to help shape the next wave of category leaders."

S2G was one of the first investors in Once Upon a Farm, a children’s food company run by CEO John Foraker, formerly head of the hugely successful Annie’s Homegrown CPG brand. After selling Annie’s to General Mills for $820 million, Foraker built a team with Once Upon a Farm that includes actress Jennifer Garner. The company is expected to hit a $250 million run rate this year.

Foraker is also an active investor in other emerging CPG brands. He recently spoke at the Naturally Chicago Financing & Innovation Forum and Pitch Slam, where he implored investors to get back

See CPG on Page 9

Jim Slama is managing director of Naturally Chicago.

into food investing:

"This is the best environment for premium CPG growth I’ve seen since 2010. Period. Ironically, this is all while the fundraising environment for emerging brands is horrible. Stabilizing, yes, but still very, very bad. On demand, there are more health-oriented consumers than ever, there’s broader availability for healthier options than ever, and this is all meeting strong consumer spending and consumer interest that appears resilient. Many brands are going to have massive years in ‘24. I think retailers are also going to light it up."

A major advantage for investors is the fact that valuations have been driven down by lack of capital.

Also, Big Food companies have been rocked by the rising numbers of people who are using Ozembic, Wegovy and other semaglutide drugs to lose weight and keep it off. Smart companies will put a greater emphasis on building innovative brands that offer delicious and nutrient-dense food, as many consumers who are utilizing those medications turn away from products with high levels of sugar and empty carbohydrates.

Retailers in the Chicago area are embracing emerging brands and giving them shelf space. Fresh Thyme Market, Whole Foods Market, Mariano’s, Costco, Goddess & the Grocer, Fruitful Yield, and Go Grocer have partnered with Naturally Chicago’s Locally Made Program to bring more local innovative brands to their shelves. Over 160 brands headquartered or producing within 150 miles of Chicago are part of the program, and more than half of these businesses are women-owned and/or minority-owned.

Naturally Chicago has also expanded its investor programs to build the supply of capital for CPG firms.

Jason Mercer is a principal at Cleveland Avenue, a billion-dollar Chicago-based fund that invests in lifestyle consumer brands and technology companies. He also chairs the Naturally Chicago Investor Committee and has played a key role in helping to grow these offerings.

“The Naturally Chicago Brand Investor Connector Database gives investors access to dozens of emerging CPG brands seeking capital,” he says. “It’s a great service for brands and investors.” The database was developed by Chicago:Blend, a nonprofit whose mission is to build a more diverse venture-capital industry in Chicago.

Naturally Chicago also just absorbed and manages Chicago Seed Co., a group of more than 60 venture-capital, family office, and angel investors that invest in food. Launched by Bluestein Ventures and Mandell Ventures, the network fosters collaboration among investors and gives them the opportunity to source investment opportunities and support portfolio companies.

Large-scale CPG companies are also active in the venture and mergers and acquisitions food space. In recent years, Mondelēz acquired Clif Bar, Chipita, Hů Kitchen and Perfect Bar.

“Snack Futures Ventures was created to invest in high-growth potential brands and businesses with future acquisition in mind,” says Richie Gray, who leads Snack Futures Ventures, Mondelēz International’s corporate venture-capital arm. “There are a lot of disruptive, innovative snack brands and technologies across the globe, which make a very exciting time to be a CVC in this space.”

World Business Chicago, the

city’s economic development agency, agrees and sees opportunity abounding in naturalproducts CPG.

“Chicago’s leadership in food manufacturing and innovation is not just rooted in our legacy but in our forward-looking commitment to shaping the industry’s future,” says Phil Clement, CEO of World Business Chicago. “Emerging brands can thrive and attract investments from investors who recognize the immense opportunities in food CPG. Chicago remains the place where bold ideas in food and beverage come to life, driving the next wave of industry breakthroughs.”

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AT A TIME WHEN COMPANIES across all industries continue to adapt to work from home versus in person, work-life balance continues to be a factor. The companies getting it right — the winners on our 2024 Best Places to Work list — blend thoughtful benefits, strategies and out-of-office policies to deliver best-in-class experiences for their employees.

Methodology: Who’s eligible? Crain’s Best Places to Work program is open to all publicly or privately held organizations, either for-pro t or nonpro t. To be eligible for consideration, organizations must have at least 25 employees working in (or reporting to a manager in) the seven-county Chicago area of Cook, DuPage, Kane, Lake, McHenry and Will in Illinois and Lake in Indiana. Published employee totals are as of April.

What criteria were used? Workforce Research Group, a Texas-based independent workplace excellence research rm, conducted a two-part survey. The rst part of the assessment consisted of an employer questionnaire, used to collect information about bene ts, policies, practices and other general information. The second part was a con dential 77-question employee survey used to evaluate local employees’ workplace experience and culture. Workforce Research Group collected data from the companies in March and April.

How was it scored? Workforce Research Group combined the scores of the two surveys, with the employee responses making up 80% of the total, and conducted an in-depth analysis to determine the number of companies that met its standard of excellence.

1. Green Of ce Partner

Industry: Consulting

Location: Chicago

Total U.S. employees: 41

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 7

◗ Does your organization o er unlimited PTO? NA

2. Bluedog Design

Industry: Consulting

Location: Chicago

Total U.S. employees: 41

◗ Annual voluntary turnover: NA

◗ Working remotely at least part time: 75%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 16

◗ Does your organization o er unlimited PTO? NA

3. The Salem Group

Industry: Sta ng

Location: Oakbrook Terrace

Total U.S. employees: 73

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 20%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? No

4. WayFinder Logistics

Industry: Logistics and shipping

Location: Chicago

Total U.S. employees: 69

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 7

◗ Does your organization o er unlimited PTO? No

5. The Horton Group

Industry: Insurance

Location: Chicago

Total U.S. employees: 57

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 18

6. Skyline Construction

Industry: Construction

Location: Chicago

Total U.S. employees: 382

◗ Annual voluntary turnover: 0%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 15

7. Stumm Insurance

Industry: Insurance

Location: Rosemont

Total U.S. employees: 57

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

8. The Lactation Network

Industry: Health care

Location: Chicago

Total U.S. employees: 112

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 99%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

9. Laughlin Constable

Industry: Advertising

Location: Chicago

Total U.S. employees: 87

◗ Annual voluntary turnover: 13%

◗ Working remotely at least part time: 10%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 14

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 20

Best places to work in Chicago

10. Redmond

Industry: Construction

Location: Chicago

Total U.S. employees: 40

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 21

11. First Bank Chicago

Industry: Banking

Location: Northbrook

Total U.S. employees: 140

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 80%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

12. Builtech Services

Industry: Construction

Location: Schaumburg

Total U.S. employees: 94

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er

unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 10

13. Ryan Cos. US

Industry: Construction

Location: Chicago and Westmont

Total U.S. employees: 1,751

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: NA

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

14. Corrugated Supplies

Industry: Manufacturing Location: Bedford Park

Total U.S. employees: 620

◗ Annual voluntary turnover: 1%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

15. Clune Construction

Industry: Construction

Location: Chicago

Total U.S. employees: 717

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 33%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 7

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? No

17. Radio Flyer

Industry: Manufacturing

Location: Chicago

Total U.S. employees: 79

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 84%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

18. Magenium Technology

Industry: Technology

Location: Downers Grove

Total U.S. employees: 76

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 75%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization o er unlimited PTO? NA

16. Builders Vision

Industry: Investment management and philanthropy

Location: Chicago

Total U.S. employees: 58

◗ Annual voluntary turnover: 1%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 15

19. Ryan LLC

Industry: Finance

Location: Chicago

Total U.S. employees: 2,657

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 97%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 18

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: PTO is not tracked

20. DMC

Industry: Technology

Location: Chicago

Total U.S. employees: 281

◗ Annual voluntary turnover: 1%

◗ Working remotely at least part time: 10%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

21. Program Productions

Industry: Sports broadcasting labor management

Location: Lombard

Total U.S. employees: 99

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 70%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 18

No. 16 Builders Vision | PROVIDED PHOTO No.

‘A life is not important except in the impact it has on other lives’ — Jackie Robinson

By Jane Adler

When asked what’s best about her workplace, Ann Lang has a quick answer.

“We’re all treated equally,” says Lang, assistant office manager at the nationally recognized law firm of Odelson, Murphey, Frazier & McGrath, Ltd. (OMFM). “The support staff is treated the same as the attorneys. We all care about each other and our families.”

Equal treatment and impacting lives are guiding principles at OMFM, Ltd. The law firm specializes in municipal, school and township representation, along with election law work. There are an equal number of 21 lawyers and 21 support staff.

Founding partner Burt Odelson believes that the firm’s many legal accomplishments for its clients are the result of the excellence of its lawyers largely because of the exceptional support staff. “The support staff is intertwined in all our cases,” says Odelson, a high-profile local figure who frequently offers legal insights in the media. “Our lawyers, with the support of our staff, produce dedicated, quality legal representation for our diverse clientele.”

The 52-year-old firm’s work is focused on the south metropolitan

region. Based in Evergreen Park, OMFM, Ltd. has satellite offices in Joliet and Chicago. It also serves as the village attorney for Bolingbrook, where it has an office.

The firm has represented U.S. presidents, Illinois governors, mayors, state and national representatives. It has litigated cases throughout the federal and state judicial systems, including at the U.S. Supreme Court.

The concept of equality extends to its pro bono service. The firm currently represents the Board of Trustees for the Village of Dolton in ongoing legal matters that have received widespread media coverage.

The firm also represented the Village of Robbins, one of the most underprivileged communities in the area, for nearly three decades, with many of those years on a pro bono basis. In a well-known pro bono case, the firm provided more than $150,000 in work hours over a two-year period to win a precedentsetting case allowing the elected mayor of Markham to take his office.

A culture that drives growth

Managing Partners Felicia Frazier and Michael McGrath (both former assistant state’s attorneys) started

at OMFM, Ltd. 23 years ago when the firm had five attorneys and six support staff members. “It’s been amazing to watch how we have grown, assembling a great team as fast as we did,” Felicia says.

What makes Frazier consider the firm one of the best places to work?

“It doesn’t feel like work,” she says, describing the culture as fun and relaxed, welcoming and comfortable. “However, when push comes to shove, the lawyers, assistants, law clerks and other staff spend whatever hours it takes to represent our clients,” Mike McGrath adds.

Frazier and Mike have an open-door policy. Employees don’t need to make an appointment to see them if they have issues they want to discuss.

“They come in, and we talk,” Frazier says. “That’s why we don’t have a lot of turnover.”

The firm holds an annual backyard barbecue meet-and-greet for clients at the office, with food cooked onsite by Sweet Baby Ray’s, and the entire staff joins in. It’s a good way to showcase the camaraderie between the support staff and the attorneys.

For a change this year, the firm held a talent show. The theme was a tribute to Jimmy Buffett. Employees were randomly divided into small groups to perform. “Clients see how much fun we have together,” Lang says.

“We’re a close-knit team.”

Individual employees are regularly celebrated. An employee is highlighted each month on the firm’s Instagram and Facebook pages. Employees are recognized for their work with special emails and gift cards. Birthdays, anniversaries, the arrival of a new baby and other important events are honored.

Employees enjoy special perks, such as luncheons and breakfasts. Once a year, OMFM, Ltd. rents a bus and takes everyone to a Cubs game on company time. Other events include a bowling outing, Valentine’s Day chair massages, Chicago River cruise and a gala holiday party at a hotel. Every year, Odelson sets up a Santa’s village in his office and plays the

jolly old elf in full costume. “I look the part,” Odelson says. Employees bring their kids in to visit Santa and get gifts. “It’s a family atmosphere,” he adds.

Person centered

Family responsibilities and growth are respected, too. Michelle Johnson left the firm where she had been a legal assistant for a number of years to go to a large firm in the Loop. After she had a baby, Odelson convinced her to return to the firm as the executive assistant. “The firm offered me the support and flexibility to find balance between being a new mom and furthering my career,” Johnson says. “Every day I come to work, I am grateful for that.”

Kim Camejo was hired 17 years ago as a receptionist. Today she is the Office Manager. “The firm has allowed me to grow and still have time to raise my two children,” Kim says.

The sense of family and impacting lives in a positive way extends to clients and the wider community. “It’s not just about being attorneys for our clients. We care about them and their community,” Frazier says. As a former state’s attorney in domestic violence court, she conducts a clothing and toiletry drive for a local shelter. Every Christmas, OMFM, Ltd. provides gifts for the Ronald McDonald House to support seriously ill children and their families during the holidays, as well as food baskets for the needy.

The firm also supports its client’s charitable efforts for back-to-school drives, cancer walks and food collections. “We give back,” Odelson says. “We become community partners just as our support staff partners with our attorneys. We are all in this together, striving to have an impact on other lives.”

of Odelson, Murphey, Frazier & McGrath, Ltd. gather for the firm’s

barbecue

for clients. This year’s theme was a tribute to Jimmy Buffet.

Best places to work in Chicago

22. Gresham Partners

Industry: Finance

Location: Chicago

Total U.S. employees: 73

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 1%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

23. Allison

Industry: Marketing and communications

Location: Chicago

Total U.S. employees: 321

◗ Annual voluntary turnover: 21%

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 15

24. High Tide Logistics

Industry: Freight and logistics

Location: Lincolnwood

Total U.S. employees: 32

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid

holidays do you o er each year? 6

◗ Does your organization o er unlimited PTO? No

25. The Trade Desk

Industry: Technology

Location: Chicago

Total U.S. employees: 1,988

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 2%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide

formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 14

◗ Does your organization o er unlimited PTO? NA

26. Richard Group

Industry: Construction

Location: Chicago

Total U.S. employees: 90

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 72%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or

later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? NA

27. Altair Advisers

Industry: Finance

Location: Chicago

Total U.S. employees: 69

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

28. Meitheal Pharmaceuticals

Industry: Pharmaceuticals

Location: Chicago

Total U.S. employees: 87

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

29. Skender

Industry: Construction

Location: Chicago

Total U.S. employees: 305

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 25%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? NA

30. SQN Associates

Industry: Construction

Location: Chicago

Total U.S. employees: 75

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 17%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? No

31. Origami Risk

Industry: Technology Location: Chicago

Total U.S. employees: 773

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 49%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: NA

No. 22 Gresham Partners PROVIDED PHOTO

No. 29 Skender PROVIDED PHOTO

32. LG Group

Industry: Construction

Location: Chicago

Total U.S. employees: 65

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 15 to 20

33. Midtown-Metro Achievement Centers

Industry: Nonpro t

Location: Chicago

Total U.S. employees: 28

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 8%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 16

◗ Does your organization o er unlimited PTO? No

34. Norcon

Industry: Construction

Location: Chicago

Total U.S. employees: 57

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 16%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide

NIXON

PEABODY

IL 60602 312-977-4400 • nixonpeabody.com

Purposeful Nixon Peabody cultivates fulfilling workplace

Law firm prioritizes community service, mental health and well-being

By Judy Stringer

At Nixon Peabody’s Chicago office, lawyers support dynamic clients from coast to coast across diverse industries. So, what makes this full-service law firm unique, and why is Nixon Peabody Chicago such a great place to work?

“Integral to our culture is the way we serve our clients through excellent, consistent and collaborative work. This is the same mindset we call upon to serve our team and our community,” said Chicago Office Managing Partner David R. Brown.

During the AmLaw 100 law firm’s annual Week of Service this October, Nixon Peabody attorneys and staff will once again get out of the office to serve the local community when the Chicago team — and their colleagues in the firm’s other 10 offices around the country — unite for collaborative

service projects and pro bono activities.

Brown calls NP’s Week of Service “one great example of how Nixon Peabody strives to engage employees to create meaningful connections with our communities and colleagues.” While the law firm’s list of benefits rivals even the most generous packages by industry standards, he said, “the purpose-driven culture, coupled with our focus on providing exceptional client service, really sets Nixon Peabody apart in a highly competitive landscape.”

“That, of course, means doing meaningful work for our clients,” Brown explained. “It also translates into providing leadership opportunities for our team, including the ability to serve on committees that shape the firm’s future.

formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

35. BOS

Industry: O ce furnishings dealer

Location: Roselle

Total U.S. employees: 121

◗ Annual voluntary turnover: 3%

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We also emphasize community involvement and pro bono legal opportunities. We hear again and again that a sense of belonging to something bigger is really important to our people.”

Local initiatives have ranged from providing pro bono counsel to immigrants fleeing persecution and advising low-income tenants facing neglectful landlords, to packing toiletries for those living in domestic violence shelters. Brown is especially proud of the Chicago office’s partnership with Christ the King Jesuit College Prep, a high school on Chicago’s West Side. Under the internship program, students with limited resources gain valuable realworld career skills and exposure to a professional office setting.

“We have the opportunity to mentor these students while getting to know them on a personal level,” he said. “It’s another way in which we include everyone in the office in a meaningful, 360-degree involvement, both in the legal profession and our community.”

Healthy priorities Brown highlighted Nixon Peabody’s outstanding office environment and focus on mental health and well-being as additional elements in the effort to create an engaging and supportive workplace culture.

The firm’s Madison Street office reflects Nixon Peabody’s commitment to a flexible work environment and

36. Arco/Murray National Construction

Industry: Construction

Location: Downers Grove

Total U.S. employees: 741

◗ Annual voluntary turnover: 12%

Working remotely at least part time: NA

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? NA

37. Kenway Consulting

Industry: Business services

Location: Chicago

Total U.S. employees: 76

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 50%

◗ Working remotely at least part time: 80%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 7

◗ Does your organization o er unlimited PTO? No

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 6

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 40

demonstrates its commitment to sustainability in action. Interior glass partitions inside the reimagined office allow natural sunlight to penetrate throughout, while flexible spaces — many of them overlooking Lake Michigan — can be reconfigured quickly to accommodate gatherings of different sizes.

“Building meaningful connections with colleagues and clients is more important than ever, and we’ve embraced flexible work arrangements and technology to help achieve that goal. Creating balance with meaningful and impactful in-person interactions energizes us. We want to be at the forefront of innovative approaches to those valuable faceto-face interactions, in a way that is inviting and comfortable,” Brown said.

On the wellness front, Nixon Peabody was one of the first signatories to the American Bar Association’s WellBeing Pledge, according to Brown.

It provides a variety of live and on-demand speakers, presentations and workshops that help colleagues identify and manage everyday mental health concerns, like anxiety and stress, and takes active steps to mitigate substance abuse, such as decentralizing alcohol at firm events.

“In an industry with demanding timelines and expectations, we recognize the importance of fostering an environment in which everyone can bring their best selves to work, as well as the value of creating as healthy of a workplace as possible for all of our people,” he said. “Is it something we have definitively figured out? No. But, we are working hard at it, soliciting feedback, taking action and improving every day. Our team benefits and our clients do too.”

Nixon Peabody’s team members connect in one of Chicago office’s spaces overlooking Lake Michigan.

Best places to work in Chicago

38. Victory Park Capital

Industry: Finance

Location: Chicago

Total U.S. employees: 60

◗ Annual voluntary turnover: 0%

◗ Working remotely at least part time: 21%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

39. Liventus

Industry: Technology

Location: Northbrook

Total U.S. employees: 46

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 90%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? NA

40. Duff & Phelps

Investment Management

Industry: Finance

Location: Chicago

Total U.S. employees: 54

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 10%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

41. Advanced Clinical

Industry: Clinical research services

Location: Deer eld

Total U.S. employees: 346

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 99%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

42. Spaulding Ridge

Industry: Consulting Industry: Chicago

Total U.S. employees: 291

◗ Annual voluntary turnover: 17%

◗ Working remotely at least part time: 24%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 20

43. Gallant Building Solutions

Industry: Construction

Location: Crystal Lake

Total U.S. employees: 66

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 35%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? No

44. Women Employed

Industry: Nonpro t

Location: Chicago

Total U.S. employees: 25

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? NA

45. Marsh McLennan Agency

Industry: Finance

Location: Schaumburg

Total U.S. employees: 973

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 95%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? No

46. Trading Technologies

Industry: Finance

Location: Chicago

Total U.S. employees: 233

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 22

◗ Does your organization o er unlimited PTO? No

47. Ebco

Industry: Manufacturing

Location: Elgin

Total U.S. employees: 60

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 30%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? No

No. 48 New Moms PROVIDED PHOTO

48. New Moms

Industry: Nonpro t

Location: Chicago

Total U.S. employees: 71

◗ Annual voluntary turnover: 22%

◗ Working remotely at least part time: 93%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 15

◗ Does your organization o er unlimited PTO? No

49. Odelson Murphey

Frazier & McGrath

Industry: Legal

Location: Evergreen Park

Total U.S. employees: 42

◗ Annual voluntary turnover: 1%

◗ Working remotely at least part time: 20%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 6

◗ Does your organization o er unlimited PTO? No

50. Bailey Edward

Industry: Architecture

Location: Chicago

Total U.S. employees: 55

◗ Annual voluntary turnover: 6%

◗ Working remotely at least part time: 7%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

51. AMOpportunities

Industry: Clinical training/software

Location: Chicago

Total U.S. employees: 47

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 17

52. Royal Cyber

Industry: Technology

Location: Naperville

Total U.S. employees: 57

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 40%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 15

◗ Does your organization o er unlimited PTO? NA

53. Peterson Technology Partners

Industry: Recruiting and consulting

Location: Park Ridge

Total U.S. employees: 47

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 7

◗ Does your organization o er unlimited PTO? No

54. WestPoint Financial Group

Industry: Finance

Location: Chicago

Total U.S. employees: 502

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 5%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

Congratulations to our Chicago Team

Hines is honored to be named one of Crain’s Chicago Business’ 2024 Best Places to Work, highlighting our commitment to a collaborative, innovative, and inclusive workplace. At Hines, we value every team member and strive to inspire excellence.

No. 50 Bailey Edward PROVIDED PHOTO

Best places to work in Chicago

55. Leahy-IFP

Industry: Food and beverage manufacturing

Location: Glenview

Total U.S. employees: 400

◗ Annual voluntary turnover: 1%

◗ Working remotely at least part time: 15%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

56. Centric Consulting

Industry: Consulting

Location: Cary

Total U.S. employees: 644

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 99%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 20

57. Setna iO

Industry: Aerospace

Location: Lincolnshire

Total U.S. employees: 150

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 5%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? No

58. Glenstar

Industry: Real estate

Location: Chicago

Total U.S. employees: 38

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? No

59. Clarity Partners

Industry: Technology

Location: Chicago

Total U.S. employees: 101

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? No

60. Nixon Peabody

Industry: Legal Location: Chicago

Total U.S. employees: 1,284

◗ Annual voluntary turnover: 12%

◗ Working remotely at least part time: 19%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: NA

61. Clayco

Industry: Construction

Location: Chicago

Total U.S. employees: 3,518

◗ Annual voluntary turnover: NA

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? No

62. Capstone Financial Advisors

Industry: Finance

Location: Downers Grove

Total U.S. employees: 36

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

63. Prominence Advisors

Industry: Technology

Location: Lincolnshire

Total U.S. employees: 87

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 19

◗ Does your organization o er unlimited PTO? No

64. Perkins Coie

Industry: Legal

Location: Chicago

Total U.S. employees: 2,455

◗ Annual voluntary turnover: NA

◗ Working remotely at least part time: 67%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? NA

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

No. 61 Clayco PROVIDED PHOTO

65. Michael Best & Friedrich

Industry: Legal

Location: Chicago

Total U.S. employees: 707

◗ Annual voluntary turnover: 10%

◗ Working remotely at least part time: 12%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

66. Allwyn North America

Industry: Consulting

Location: Chicago

Total U.S. employees: 112

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? No

67. Kovitz Investment Group

Industry: Finance

Location: Chicago

Total U.S. employees: 169

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 10%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid

holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

68. Weiss

Industry: Accounting

Location: Glenview

Total U.S. employees: 59

◗ Annual voluntary turnover: 0%

A Culture of Caring

◗ Working remotely at least part time: 1%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er

unlimited PTO? NA

69. Public Communications

Industry: Communications and marketing

Location: Chicago

Total U.S. employees: 30

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? NA

70. BigTime Software

Industry: Technology

Location: Chicago

Total U.S. employees: 159

◗ Annual voluntary turnover: 16%

◗ Working remotely at least part time: 9%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? NA

Best places to work in Chicago

71. Loberg Construction

Industry: Construction

Location: Palatine

Total U.S. employees: 38

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 70%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

72. Provisio

Industry: Consulting

Location: Chicago

Total U.S. employees: 90

◗ Annual voluntary turnover: 30%

◗ Working remotely at least part time: 60%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? NA

73. Next Door & Window

Industry: Construction

Location: Burr Ridge

Total U.S. employees: 77

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 35%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? NA

74. Trustmark

Industry: Health insurance

Location: Lake Forest

Total U.S. employees: 824

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 48%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er

unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: Not all time off is tracked

75. Burwood Group

Industry: Technology

Location: Oak Brook

Total U.S. employees: 220

◗ Annual voluntary turnover: 13%

◗ Working remotely at least part time: 95%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 10

76. Muse Community + Design

Industry: Urban planning consultants

Location: Chicago

Total U.S. employees: 25

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 16

◗ Does your organization o er unlimited PTO? NA

77. KemperSports

Industry: Business services

Location: Northbrook

Total U.S. employees: 4,970

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 70%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

78. NDH Advisors

Industry: Accounting

Location: Chicago

Total U.S. employees: 65

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 74%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 17

79. Buckley Fine Law

Industry: Legal

Location: Barrington

Total U.S. employees: 37

◗ Annual voluntary turnover: 0%

◗ Working remotely at least part time: 20%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

80. Riveron

Industry: Consulting

Location: Chicago

Total U.S. employees: 711

◗ Annual voluntary turnover: 12%

◗ Working remotely at least part time: 23%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

No.

81. Juno Logistics

Industry: Logistics and shipping

Location: Itasca

Total U.S. employees: 51

◗ Annual voluntary turnover: 3%

◗ Working remotely at least part time: 80%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

82. Duane Morris

Industry: Legal

Location: Chicago

Total U.S. employees: 114

◗ Annual voluntary turnover: 9%

◗ Working remotely at least part time: 80%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

83. Heartland Realty Investors

Industry: Property management Location: Schaumburg

Total U.S. employees: 118

◗ Annual voluntary turnover: 15%

◗ Working remotely at least part time: 3%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid

holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

84. Goldberg Kohn

Industry: Legal Location: Chicago

Total U.S. employees: 158

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part

SPONSORED CONTENT

NYHAN, BAMBRICK, KINZIE, & LOWRY

20 N. Clark St., Suite 900, Chicago, Ill. 60602 312-629-9800 • nbkllaw.com

SPOTLIGHT

Celebrating the differences that drive a diverse team

By Brooke Bilyj

When Deidre A. Christenson interviewed at Nyhan, Bambrick, Kinzie, & Lowry 23 years ago, she looked at the men around her in the conference room and asked, “Why aren’t there more women in here?” Now, as a partner at the legal rm focusing in workers’ compensation and employment law, Christenson is “very proud of the progress that’s been made.”

Today, one-third of the rm’s shareholders are women, along with 48 percent of its non-equity partners. e current management team, overseen by Managing Shareholder Robert E. Harrington, Jr., includes two women — Vice President Amy E. Bilton and Secretary Christine M. Jagodzinski —along with President William A. Lowry.

“It really is the people that make our rm one of the best places to

work,” Christenson says, referring to the rm’s 47 attorneys and 45 sta members, with their unique backgrounds, perspectives and experiences.

“Employees are drawn to Nyhan because of our stellar reputation, but employees stay here because of the people — people who are celebrated for the diversity that they represent,” says Lowry, a leader in the black community who has served as Cook County Commissioner since 2018. “If you’re going to be a successful law rm, you’ve got to practice good law. But what makes a rm special? It’s the people and the relationships. at’s our secret sauce.”

Developing future leaders

Several members of the rm, including Lowry, have been at Nyhan since it formed in 1992. Others joined later and accumulated decades

of tenure — like Harrington, who has been at the rm for a total of 25 years.

In addition to this deep-seated bench strength, the rm has also developed a process for cultivating new attorneys. “We have a robust, polished training program that starts when they’re still in law school,” Harrington says. “We interview law students right a er they nish their rst year, and they join us for 10 weeks a er their second year. ey get to shadow us and see what it’s like to be an attorney.”

From these internships up to lateral attorney hires, “mentorship is a big part of our rm culture,” Harrington says. “Any time someone new starts, they’re assigned two attorney mentors to answer general questions and teach them how we do things at Nyhan.” While this “buddy system” was initially designed to train new hires,

85. Kindle Communications

Industry: Event planning

Location: Chicago

Total U.S. employees: 45

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: 15%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? No

86. Sikich

Industry: Consulting

Location: Chicago

Total U.S. employees: 1,676

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 80%

time: 97%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? NA

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 20

he says, “we realized there’s a lot more value than just the training,” as the friendships forged tend to outlast the formal meetings.

Engaging beyond the of ce

A er listening to its team’s desire for hybrid work exibility, Nyhan’s leaders decided to consolidate the rm’s o ce space from two oors down to one. As part of this transformation, they completely renovated the remaining level, adding oor-to-ceiling windows and bright colors inspired by the brand logo. “We wanted our employees, clients and guests to feel how special this place is,” Harrington says.

With roughly 60% of its team working remotely, Nyhan concentrates on keeping people connected beyond the o ce, as well. For example, the social committee organizes monthly social hours, along with themed parties and

events like a recent cruise down the Chicago River.

Another committee organizes charitable events and volunteer opportunities that bring employees together to support local causes, like Habitat for Humanity and the Ronald McDonald House. Two years ago, a er committing to 30 acts of community service to celebrate its 30th anniversary, the rm quickly surpassed its goal as employees just kept giving.

“Community service is an integral part of the rm because it’s important to the individual people at the rm,” Christenson says. “We’re always provided the exibility to give back.”

From Left: Partner Deidre A. Christenson, Managing Shareholder Robert E. Harrington, President William A. Lowry

No. 76 Muse Community + Design | PROVIDED PHOTO

Best places to work in Chicago

87. Beacon Funding

Industry: Finance

Location: Northbrook

Total U.S. employees: 94

◗ Annual voluntary turnover: 6%

◗ Working remotely at least part time: 85%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 8

◗ Does your organization o er unlimited PTO? NA

88. Sassetti

Industry: Accounting

Location: Oak Brook

Total U.S. employees: 50

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 10%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 13

◗ Does your organization o er unlimited PTO? No

89. Klein & Hoffman

Industry: Architecture and engineering

Location: Chicago

Total U.S. employees: 70

◗ Annual voluntary turnover: 7%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 7

◗ Does your organization o er unlimited PTO? NA

90. Nicor Gas

Industry: Utilities

Location: Naperville

Total U.S. employees: 2,366

◗ Annual voluntary turnover: 2%

◗ Working remotely at least part time: NA

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

91. Zoro

Industry: Retail

Location: Chicago

Total U.S. employees: 640

◗ Annual voluntary turnover: NA

◗ Working remotely at least part time: 50%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? No

◗ How many employer-paid holidays do you o er each year? 6

◗ Does your organization o er unlimited PTO? No

92. Nyhan Bambrick

Kinzie & Lowry

Industry: Legal

Location: Chicago

Total U.S. employees: 86

◗ Annual voluntary turnover: 4%

◗ Working remotely at least part time: 60%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? No

93. Of ce Revolution

Industry: Contract furniture

dealership

Location: Bannockburn

Total U.S. employees: 67

◗ Annual voluntary turnover: 8%

◗ Working remotely at least part time: 25%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 9

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 21

94. SEI

Industry: Consulting

Location: Chicago

Total U.S. employees: 33

◗ Annual voluntary turnover: 17%

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

95. Objective Paradigm

Industry: Executive placement

Location: Chicago

Total U.S. employees: 52

◗ Annual voluntary turnover: 8%

No. 88 Sassetti | PROVIDED PHOTO

◗ Working remotely at least part time: 85%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 6

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 22

96. Seyfarth Shaw

Industry: Legal

Location: Chicago

Total U.S. employees: 1,902

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 17%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

97. Vitality Group

Industry: Health and wellness

Location: Chicago

Total U.S. employees: 256

◗ Annual voluntary turnover: 5%

◗ Working remotely at least part time: 34%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? No

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 18

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: 16

NICOR GAS

1844 Ferry Rd., Naperville, Il 60544 888-642-6748 • nicorgas.com

Nicor Gas fosters a family environment fueled by a strong culture

Employees commit to careers of service in their jobs and communities

By Brooke Bilyj

As the largest natural gas distribution company in Illinois, Nicor Gas serves more than 2.3 million homes and businesses across the northern third of the state. Keeping pipelines flowing across this 17,000-square-mile territory requires a team effort that unifies all 2,000 employees around a shared focus on service.

“We feel that what we do is vital, and we view it as a privilege,” said Wendell Dallas, president and CEO.

“We consider ourselves to be a family, and just like you take care of your family, we take care of each other, our customers and our communities.”

With safety at the core of its

operations, Nicor Gas also takes care of its team by investing in career development and growth — fostering an encouraging environment that employees are proud to call home.

Investing in growth

One avenue Nicor Gas is investing in is its future workforce through it’s Career Academy — a six-week job readiness program that prepares participants for careers in the utilities industry.

In partnership with the Quad County Urban League, IBEW Local 19 and other industry partners, the free training program combines job shadowing, career planning and basic

98. Feldco

Industry: Construction

Location: Rosemont

Total U.S. employees: 281

◗ Annual voluntary turnover: 6%

◗ Working remotely at least part time: 0%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide

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skills. Many of the participants secure full-time roles with Nicor Gas or one of its partners — like Andreina Roa, who emigrated from Venezuela to the U.S. in 2016, enrolled in the Career Academy in 2018 and joined Nicor Gas as an entry-level meter reader upon completion. “They provide tools and guidance to [show you] how the job will look,” she said. “Because of all the training you receive, you feel more confident.”

The company also provides mentorship programs and leadership training. “Nicor Gas invests in employees to keep developing new skills,” said Roa, who now serves as a field supervisor.

Mark Knox, who joined Nicor Gas as an accountant right out of college in 1985, similarly leveraged these resources to advance his career — which spanned operations, investor relations and other functions — while earning his CPA and MBA through the company’s tuition reimbursement program.

“I was blessed with opportunities,” said Knox, who retired as a managing director in 2022. “I’m proud to have worked there for 37 years.”

Family atmosphere

Like Knox, many employees have tenures at Nicor Gas that stretch decades. “There’s longevity,” he said. “It’s like a family or a fraternity. In fact, annual celebration events of milestone anniversaries are a highlight for employees from one to 35-plus years of service.”

◗ Working remotely at least part time: 100%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 12

◗ Does your organization o er unlimited PTO? Yes

◗ If so, average annual number of PTO days an employee takes: Guideline is 22

100. Hines

Industry: Real estate

Location: Chicago

Total U.S. employees: 3,092

◗ Annual voluntary turnover: 11%

◗ Working remotely at least part time: 0%

formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 10

◗ Does your organization o er unlimited PTO? No

99. Coherent Economics

Industry: Consulting

Location: Chicago

Total U.S. employees: 34

◗ Annual voluntary turnover: 3%

◗ Do you have a strategy to recruit and retain Gen Z (born 1997 or later) employees? Yes

◗ Does your organization provide formal DEI training? Yes

◗ How many employer-paid holidays do you o er each year? 11

◗ Does your organization o er unlimited PTO? NA

Notes: NA = Information not available.

Research: Workforce Research Group. Editor: Ann R. Weiler. Copy editor: Danielle Narcissé. Recognitions project specialist: Ashley Maahs.

Because of the inclusive culture and strong core principles like respect, a sense of camaraderie unites everyone, “from the highest levels of the company to the entry-level field employees,” Knox said. “It doesn’t matter what your job title is. Everybody’s comfortable with each other.”

Fun events help foster this atmosphere — like Family Fest, an annual company picnic that brings employees and their families together with games, entertainment and food. These familial ties create lifelong friendships. “Nicor Gas changed my life,” Roa said. “I’m so happy because I feel like I have a family here.”

Community service

Beyond serving customers, Nicor Gas is committed to serving the entire community by giving back. “We want our communities to be better because we’re here,” Dallas said. To engage

employees, the company organizes volunteer opportunities every month — from hands-on building projects with Habitat for Humanity to friendly fundraising challenges for United Way.

“Volunteerism makes people feel like family,” said Knox, who ended up joining the board of Habitat for Humanity, “because we’re all working side-by-side, trying to make society better together.”

By contributing to common causes, both on the job and in the community, Nicor Gas employees commit to careers of service. “It’s not just a job where you come and work,” Roa said. “It’s so much more.”

Nicor Gas’ philanthropic focus and partnerships with nonprofits across Illinois, like Habitat for Humanity (pictured above) are designed to make a meaningful impact for employees, customers and the communities served by the natural gas distribution company.

No. 98 Feldco | PROVIDED PHOTO

HIGHEST-PAID NONPROFIT LEADERS IN THE CHICAGO AREA

ResearchbySophieRodgers(sophie.rodgers@crain.com)|Thisdirectoryisnotcomprehensive.Datawasobtainedfrom990taxformsforthefiscalyearbeginningin2022,whichformostorganizationsis themostrecentyearavailable.Crain'sincludesnonprofitsbasedintheChicago-areacountiesofCook,DuPage,Kane,Lake(Ill.),Lake(Ind.),McHenryandWill,and/orthathaveaprimarymissionthatis Chicago-based.Universitiesandhospitalswereomitted.Someexecutivesmayhaveleftlistedpositionssincethe990wasfiled. 1. Includes$30,603fromrelatedorganizations. 2. Includes$16,512from related organizations. 3. Entirety of compensation comes from related organizations. 4. Includes $309,330 from related organizations.

PEOPLE ON THE MOVE

ACCOUNTING

Mowery and Schoenfeld, LLC, Lincolnshire

Judd Appel recently joined Mowery & Schoenfeld as a Partner in the Transaction Advisory Services practice. Appel has over 20 years of expertise in transaction advisory services and investment banking. His focus is to drive the firm’s pipeline and execute buy-side and sell-side transactions. Appel’s experience includes both public, private- and sponsor- backed clients across a variety of industries. Judd has executed nearly 100 transactions with combined transaction prices exceeding $10 billion.

BANKING

Marquette Bank, Orland Park

Marquette Bank, Chicagoland’s Neighborhood Bank, welcomes Richard Nichols as Vice President of Commercial Banking. Richard brings nearly 25 years of commercial business banking experience to Marquette Bank, where he will continue to focus on serving the Chicagoland market. As an alumnus of University of Illinois – Chicago, and longtime lender at the former Royal Savings Bank, Chicago, Richard has a deep understanding of business banking in Chicagoland.

LAW FIRM

Greenberg Traurig, LLP, Chicago

Greenberg Traurig welcomes Charles Calloway as a shareholder. He brings extensive experience representing financial institutions and strategic investors in domestic and cross-border corporate, project, ESG, and structured finance transactions. He has a background in private placements of debt and equity securities, and counsels companies and strategic investors on growth investments and acquisition financings. He also represents strategic investors in teams, sports stadiums, and sports leagues.

MULTI-HOUSING

Hispanic Housing Development Corporation, Chicago

TRANSPORT / LOGISTICS

Parts

ARCHITECTURE / DESIGN

Hoerr Schaudt, Chicago

Hoerr Schaudt is delighted to welcome back Michael Skowlund, PLA, LEED AP, as a Principal in our Chicago office. With over two decades of experience in landscape design, Michael has a distinguished track record of leading some of the industry’s most prestigious projects. His strategic vision and expertise in business development have been instrumental in driving firmwide growth and innovation. We are eager to see how his leadership will shape the future of our firm.

Wintrust Financial Corporation, Rosemont

Wintrust Financial Corp., a financial services holding company based in Rosemont, Illinois, with more than 170 locations across Illinois, Indiana, Wisconsin, and Florida is pleased to announce two appointments.

Christopher Woelffer was appointed to EVP, Market Head for the Michigan market at Wintrust Financial Corporation. Most recently, Christopher served as the CEO of Schaumburg Bank & Trust Company, N.A. Christopher joined Wintrust in 2020. Ursula Moncau was appointed to CEO of Schaumburg Bank & Trust Company, N.A. Prior to her new role, Ursula served as President of Schaumburg Bank & Trust Company, N.A. Ursula joined Wintrust in 2007.

LEGAL

Paul Coyle has joined Benesch as a Partner in the firm’s Commercial Finance & Banking Practice Group. His practice encompasses a broad range of general corporate counseling for healthcare provider clients as well as negotiating and documenting asset-based, cash-flow, unitranche and real estate financing transactions on behalf of both institutional lenders and borrowers with an emphasis in the healthcare industry. Tara Raghavan has joined Benesch as a Partner in the firm’s Intellectual Property Practice Group. She focuses on complex patent litigation, counseling, and opinion work in the life sciences and pharmaceutical industries, with specific knowledge in the Hatch-Waxman Amendments to the Food, Drug, and Cosmetic Act.

Tony Hernandez has joined Hispanic Housing Development Corporation (HHDC) as President and CEO. Hernandez brings more than 30 years of community development and financial experience to HHDC, most recently as US Head of Community Investments for CIBC US. There he built an investment team known for its leadership and creativity in financing Low Income Housing Tax Credit transactions. Prior to CIBC, Hernandez led the Asset Management Department for the Illinois Housing Development Authority.

Lisa Backlin joins Part Town Unlimited, the parent company of Parts Town, as the group’s Vice President, Supply Chain. With over 20 years of global experience, including in network design and optimization, she will enhance the company’s global distribution capabilities, supporting its growth and scalability while driving operational excellence.

NON-PROFIT

YMCA of the USA, Chicago

YMCA of the USA (Y-USA), the national resource office for the nearly 2600 Ys across the country, has tapped Darryl K. Henderson, J.D. as its new Senior Vice President, Chief Human Resources Officer. In his new role, Henderson will be responsible for the design and implementation of HR policies, standards and practices for Y-USA. Henderson brings more than 20 years of HR leadership experience, serving in both the public and private sectors, including start-ups and non-profits.

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Town Unlimited, Addison

Benesch, Chicago

Raghavan

Woelffer Moncau

River North restaurant Ema expanding in Glenview

Lettuce

By Ally Marotti

Lettuce Entertain You Enterprises is opening a Glenview outpost of River North Mediterranean restaurant Ema, continuing a trend started post-pandemic in which city restaurants are migrating to the suburbs.

Ema is set to open this month. It will mark the restaurant group’s first location to open in the suburbs since the pandemic, according to Lettuce Executive Partner Marc Jacobs.

“We have a really strong frequent diner base on the North Shore, and it’s been quite a bit of time since we opened a restaurant up here,” he said. “When (customers) walk into the restaurant, the look, the feel, the food, it’s so different from what’s available.”

In a way, the suburbs have become Chicago’s hot new dining spot since the pandemic. When COVID-19 hit and people started working from home, they also began dining out near home. The trend continued as restrictions lifted and a hybrid workweek became the norm. Instead of grabbing a drink after leaving their downtown office, people seek refreshment nearby after a day working from home.

Pre-pandemic, Chicago restaurant groups hesitated to open suburban locations because they weren’t sure if they could drum up weekday business. That concern no longer exists. Though many workers have returned to down-

town offices, Loop restaurants report Mondays and Fridays remain slow. That means strong weekend business at suburban restaurants.

“There has been a reset of expectations of how much sales to expect in a central business district store vs. one in the neighborhoods or suburbs,” Rich Shank, senior principal and vice president of innovation at market research firm Technomic, said in an email. “The Loop may not automatically be the biggest store opportunity for every restaurant as much as it was prior to the pandemic.”

For restaurants, the suburbs also offer lower rents, more space and less competition than the city. When some restaurants were testing the waters in 2021, they were worried about the differences between the suburban and urban diner. Would there be sticker shock? Would the menu hit the same? They’d need to add kids menus and parking. But ultimately, those concerns have not proved to be dealbreakers. Many urban residents moved to the suburbs during the pandemic. The restaurants were following an already loyal customer.

also hoping Ema will attract established guests who don’t want to drive to the city.

Lettuce’s decision to open in Glenview was driven, in part, by metrics. The restaurant group gathers data from its loyalty program and knew it already had a strong customer base in the North Shore, Jacobs said. Such data also helps Lettuce make menu decisions and figure out how to attract new guests.

“We’ve had great success with this frequent diner, this guest and also with our other restaurants in the area,” he said. “We know the guest, we like them, they like us. It just makes sense.”

The restaurant, at 1320 Patriot Blvd., will be light and airy — like a beach club — with a skylight and tones of cream, white and ivory, Jacobs said.

Mediterranean menu

The menu is Mediterranean and leans vegetarian. Some items will overlap with the River North location, and the prices will be the same in both places. But half of the roughly 40 items will only be available in Glenview.

“We introduced a ton of new dishes, understanding people get excited about new,” Jacobs said.

“We wanted to keep some of the best-selling favorites but also introduce things that would maybe drive the city folks to come to Glenview.”

Jacobs said he expects the customer base to be people working from home, those lunching with friends, nearby residents, and high school and college students. He is

Experts do not expect the migration of urban restaurant brands to the suburbs to slow down. One challenge is establishing a solid takeout and delivery program.

Darren Tristano, CEO of research and consulting firm Foodservice Results, said consumers still look for quick, more affordable dining options during the week.

Indeed, Jacobs said he is interested to see how the takeout and delivery business does in Glenview. Ema does a huge carryout business from its River North location. It also remains to be seen if people will dine earlier in Glenview and how they’ll use the private dining spaces Ema added.

Another restaurant group, Ballyhoo Hospitality, is reversing the trend. The company plans to open Petit Pomeroy, a sister restaurant of Winnetka’s Pomeroy, in River North this fall. The menu will feature some of the most requested dishes at the Winnetka location.

Expanding a brand to the suburbs — or vice versa — can act as a steppingstone for further expansion, Tristano said. That’s particularly true for a company such as Lettuce, which has expanded some of its restaurant brands nationwide or spun them out and sold them.

“A lot of restaurants that start out in an urban area look to expand into the suburbs because they’re trying to prove that they can operate in both environments,” he said. “They really need to test in more affluent areas that they can survive in those spaces in order for them to sort of develop a strategy toward future expansion.”

JEFF m ARINI

JEFF m ARINI

CJ Jacobson JEFF mARINI

Hot summer of $7 million-plus sales isn’t over yet

the market in the Chicago area

By Dennis Rodkin

A Gold Coast condo that major leaguer Jason Heyward owned when he was with the Chicago Cubs sold for $7.3 million.

That makes six sales of Chicagoarea homes at $7 million or more in the past month, a remarkable run that speaks to the vigor at the upper end of the market.

At this point, six of the 10 highest-priced sales of the year, including the No. 1 property, a Lincoln Park mansion that sold for more than $15 million, have all sold during that time period. The other four were scattered around January, April and May.

It’s also been a hot summer on the listing side, with 10 homes hitting the market at $10 million or more since mid-July, including a $27.5 million offering in Lake Forest that came on the market yesterday.

The property that went for $7.3 million is at No. 9 Walton, which has been a hub of multimilliondollar condo sales since it opened in 2017.

Heyward was in his third year with the Cubs when he bought the condo in June 2018 for a little more than $6.9 million. In Octo-

ber 2020, he bought a $5.9 million home on North State Parkway and a few months later put the Walton Street condo up for sale at $7.6 million. It sold fast, in 13 days, for $7.2 million.

Heyward, who’s now playing for the Houston Astros, still owns the State Parkway home, according to

3 Bedroom, 3.5 Bath that needs extensive updating. Possibly the best value in the building if you are willing to do some customizing. Approximately 3,600 sq. ft., unit 11S in Co-Op building located between Burton and North Ave., on Lake Shore Drive with lake, city and park views. The sale and transfer of shares is subject to the Board’s receipt and review of all required information, and approval of the prospective buyer, as stated in the governing documents. Previously Priced To $950,000 • Suggested Opening Bid $385,000 Viewings by appointment—Broker Participation Invited

Cook County tax records.

The people who bought the condo from Heyward in 2020 did it through a land trust that conceals their names.

They put the condo on the market in May at nearly $7.8 million. The sale price is about 94% of that asking price.

Susan Miner of Premier Relocation represented both the sellers and the buyers. She did not immediately respond to a request for comment. The buyers are not yet identified in public records.

The condo has a 360-square-foot covered outdoor terrace and comes with three valet parking spaces.

Comparing the latest listing photos with photos from the time of Heyward’s sale, it’s clear these sellers kept the kitchen, primary bedroom and some other spaces as Heyward left them. A few rooms have been painted in new colors, but no other changes are obvious. The sale closed Aug. 30 but did not appear in real estate records until Sept. 5.

The property that went for $7.3 million is at No. 9 Walton, which has been a hub of multimillion-dollar condo sales since it opened in 2017. | VHt StUDIOS pHOtOS

Lake Forest mansion on historic site lists for $27.5 million

It was built in 2019 on the site of Villa turicum, a palatial home constructed in the early 1900s by a married couple who came from two of America’s most wealthy families I

Awaterfront Lake Forest mansion whose grounds include remnants of one of the grandest homes the town has ever seen hit the market Sept. 4 at $27.5 million.

The property on Circle Lane, a 15,000-square-foot house with garage space for 22 cars, is the second-highest priced home for sale in the Chicago area. It follows the Aug. 9 listing of a home in Winnetka at $35 million. It’s also the 10th property to come on the market at $10 million or more since mid-July, an unusual run of high-end listings.

Two other Lake Forest estates are in the pack of 10, an estate with acres of gardens that went up for sale in mid-August at $15 million and a lakefront mansion priced at $11.9 million that hit the market a couple of days before it.

The $273.5 million listing, a property with almost 5.3 acres and 570 feet of Lake Michigan shoreline, is represented by Ann Lyon and Kim Campbell of @ properties Christie’s International Real Estate. Lyon is also the agent for the $15 million Lake Forest property.

The seller, according to Lake County public records, is Terry Rozdolsky. In 1997, Rozdolsky launched Harbortown Industries, most of whose business is making picture frames. Its biggest customers are reportedly Walmart, Target and Michaels. One online report says Lake Forest-based Harbortown did $71.2 million in sales in 2020.

In 2010, Rozdolsky and his then-wife, Lori, paid $4.5 million for the site. (The Rozdolskys divorced in 2022.) That’s about half what the previous owners were

By Dennis Rodkin

asking when they put the property on the market in 2007.

The Rozdolskys tore down the previous owners’ 13-room house and in 2019 completed the present mansion, whose room count is not specified in the listing.

The Italianate brick and stone house has two three-car garages projecting off the front as wings forming an entry court, and a basement-level garage for another 16 cars. The mansion, pool and yard are atop a 75-foot bluff, at the bottom of which is a lake cove protected by wave-calming arms of rock, for easy swimming and launching boats.

Descending from the mansion to the cove is a grand formal staircase, the most monumental remnant of the historic estate where the Rozdolsky house and a large subdivision now lie. Villa Turicum was a 269-acre estate established in the early 1900s by a married couple who came from two of America’s wealthiest families:

Harold McCormick, son of Cyrus McCormick, whose mechanical reaper revolutionized agriculture and launched the firm International Harvester, now known as Navistar, and Edith Rockefeller McCormick, daughter of Standard Oil leader John D. Rockefeller.

The McCormicks’ 44-room mansion, designed by architect Charles Platt and set at the end of a halfmile-long landscaped drive, was completed in 1908, and the stairs down the bluff in 1912. The McCormicks, whose primary residence was at 1000 N. Lake Shore Drive, were said to have used the Lake Forest estate little before their divorce in 1921.

The Villa Turicum mansion was demolished in 1959, and in

the 1970s the estate was subdivided. In 1977, Carole and Ron DeBruin bought the parcel where the mansion had been and built a house. They restored the bluff staircase and a reflecting pool 120 feet long.

It's the DeBruins who sold to the Rozdolskys, who subsequently built the present mansion, the third to occupy the site in the past

11 decades. The reflecting pool is evidently gone — from the listing photos, it appears to have been replaced by the motor court in front of the house. But other remnants remain on nearby properties. The Villa Turicum teahouse is down the street, on a property that sold for about $3.7 million in 2020, and is a visual highlight of walks on public trails in the ra-

vine preserve to its south. Since 2007, there have been only three home sales in Lake Forest at $10 million or more. Two of those sales were the same property: Nancy Hughes, widow of moviemaker John Hughes, paid $12 million for a Mayflower Road estate in 2018, and after she died her estate sold the property in 2022 for nearly $13 million.

The property on Circle Lane, a 15,000-square-foot house with garage space for 22 cars, is the second-highest priced home for sale in the Chicago area. | pALO DObrIK pHOtOGrApHY pHOtOS

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BUDGET

From page 1

COVID-19 pandemic blew a hole in the city’s finances.

CFL President Bob Reiter and Lightfoot brokered a deal to avoid the layoffs by planning to borrow against $15 million in future revenue from city taxes on then-newly legal cannabis sales. The deal came after the CFL released a report it commissioned claiming to show how the city could save at least $195 million through better managing health care costs and cutting the number of supervisors per employee in city departments.

The city later avoided the cannabis borrowing idea when President Joe Biden took office and poured money into pandemic relief funds that helped Chicago replace revenue.

Reiter did not immediately respond to a request for comment.

The CFL organized a call Aug. 30 so leaders of the unions that represent roughly 90% of the city government’s workforce could hear from Johnson’s budget team after it released the dire forecast, but no specifics were shared on how the mayor plans to make up for the shortfall, according to two sources on the virtual call.

Eliminating vacancies

It would be difficult to realize significant personnel savings without eliminating vacancies in the two departments with the largest workforce, the Chicago Police Department and Chicago Fire Department, but cuts to public safety

From page 3

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dean of the Grainger College of Engineering at the University of Illinois. He also praised de Pablo’s support for the Chicago Quantum Exchange and the quantum-startup incubator Duality.

While U of C overall is a more highly ranked university, NYU has something it does not: a multidiscipline engineering school. It’s something that has been per-

are never easy.

Under pressure during his campaign for office over past comments tying him to the “defund” the police movement, Johnson said he would not cut the department’s budget by “one cent.”

But Johnson will also face pressure from the city’s other major labor union, the American Federation of State, County & Municipal Employees, to not come after their members. The union made Johnson their first mayoral endorsement since former Mayor Harold Washington.

Ald. Walter Burnett, 27th, has seen his share of tough budget seasons since joining the City Council in 1995. Cutting costs by laying off personnel is difficult because it can lead to a cut in services, but there are vacancies in the departments for which “they couldn’t even hire people if they wanted to,” he said.

Personnel costs in the city’s corporate fund, which handles dayto-day operating costs, are set to increase $304 million in 2025, according to the budget forecast. In the last 10 years, the city’s fulltime employee headcount has increased by over 2,000 workers to 36,420 in 2023.

Despite the long-term trend of more city employees, Chicago personnel costs often come in under budget year over year because of savings stemming from the lag time from when positions come available until they are filled.

Despite a projected $223 million overall deficit in 2024, the city expects to spend $44.6 million less on personnel costs this year than previously estimated when Johnson’s first spending plan was ap-

ceived as an obstacle in U of C’s quest to be mentioned alongside rivals Stanford, Harvard and Massachusetts Institute of Technology as an engine for creating new companies and jobs through innovation and technology.

In addition to being dean of engineering, de Pablo will have similar broad responsibilities at NYU that he had at Chicago as executive vice president for global science and technology.

U of C has appointed a team of interim replacements, including

proved last fall. That’s before the potential hiring freeze.

"We know we're going to have to make some adjustments, especially if people don't want to look at revenue options,” said Ald. Jason Ervin, 28th, chair of the Budget Committee. “You deal with deficits — you either make the cuts or you find the money.”

Raising taxes

If Johnson attempts to trim the budget gap by making structural changes to the city’s workforce, he may find new allies who’ve long called for cuts. But those allies aren’t likely to be included in the 26 votes needed to pass a budget if Johnson ties the cuts to increased taxes, including a large property tax increase.

Ald. Brendan Reilly, 42nd, pointed to the hundreds of nonunion employees on the city’s books.

“If you look at the ratio of managers to employees at the city, it is still completely upside down with the private sector . . . so you look to that right away,” he said.  Reilly also brought up eliminating long-term city vacancies, saying they are “budget fluff.”

“We’re not talking about just a handful of positions we’re just waiting to get that applicant into,” he said. “We’re talking about hundreds of positions across departments. . . .The taxpayers don’t have more money to give, so (Johnson) needs to take out a budget ax.”

But Reilly says cutting government positions wouldn’t get his vote if Johnson also increases taxes, even a more modest property tax increase tied to inflation.

Nadya Mason, dean of the Pritzker School of Molecular Engineering, who will oversee science, innovation, and partnerships. John Anderson, a senior adviser at Brookhaven National Laboratory and a Fermilab veteran, will oversee the teams supporting the national labs, and former Argonne Director Walter Massey will serve as a special liaison. The UChicago Global program will be overseen by the provost’s office. Federal relations will be part of the Office of Civic Engagement.

JOHN R. BOEH m

competition that experts say could lead to a wider variety of eateries, bars and shops at the airport, as well as more favorable terms for the city.

Concessions are important to travelers, but they’re also crucial to airlines and the city because concession revenue reduces the amount that carriers pay in landing fees and terminal rents, which cover the majority of the costs of operating the airport. Concessions are particularly important at O’Hare, which has less retail space than newer airports.

Having more contracts could provide local shops and eateries more opportunities to get a piece of the action, which traditionally has been a focal point for City Council members, who must ultimately approve the concession deals, as well as Mayor Brandon Johnson.

“Today’s announcement of the new concession contracts offers another opportunity for Chicago to invest in the diverse people and communities that make our city a premier travel destination,” Johnson said in a press release. “We are creating additional space for Chicagoans from every neighborhood to operate businesses while at the same time offering world-class amenities to travelers.”

Individual restaurants and retailers traditionally team up with larger concession operators on contracts. Altogether, the 21 packages being put out for bid include 75 food and beverage locations, 34 retail slots and three duty-free sites in Terminals 1 and 3, which, respectively, are home to United and American airlines.

Companies can win multiple contracts, but there are limits on the amount. Several of the contracts are open only to small businesses.

The existing domestic concessions contract includes Terminal 2, which will be demolished and rebuilt as a new global terminal to be opened in 2032. It’s not part of the current bid package.

Companies have been circling O’Hare for years in anticipation of landing what is seen as one of the biggest deals in the airport concessions industry. O’Hare was the fifth-busiest U.S. airport last year, based on passengers, according to Airports Council International. It’s traditionally been the second largest behind Atlanta’s HartsfieldJackson International, but O’Hare has recovered more slowly from the pandemic than rivals DallasFort Worth and Denver.

“This has been a long time coming,” says Ezequiel "Zeke" Flores, CEO of Chicago-based Flying Concessions, which operates Green Market and other concessions at Midway and a jointventure restaurant at O’Hare. “It’s exciting. There’s opportunity for

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and we remain excited about the industry’s future. In the meantime, we will continue investing our efforts in making Illinois an attractive place for manufacturers to do business and building out our network of fast chargers to increase EV adoption."

As part of a major clean-energy program launched during Pritzker’s first term, Illinois created incentives for vehicle purchases and the buildout of chargers. EV buyers can get $4,000 rebates on EV purchases, on top of the $7,500 available from the federal government, although the pool of money available for state incentives each year is capped. This year, $14 million is available.

“There’s a lot of regulation and policy pushing consumers to make a choice they’re not ready to make yet,” Brinley says. “Incentives help, but they’re not going to convince someone to buy something they’re afraid of.”

Tapping the brakes

Consulting firm J.D. Power recently reduced its forecast, predicting U.S. EV sales will account for 9% of the market this year, down from an earlier estimate of 12%, Reuters reported.

The pace of EV sales in recent years, causing automakers such as Ford and General Motors to announce bold strategies to quickly switch from internal-combustion vehicles to electric. Along with other automakers, such as Volvo,

all of us. Companies like ours will be able to chase these opportunities.”

Under the city’s plan, 10% of the concessions space will go to small businesses, as well as an incubator program designed to bring in first-time operators to the airport. Bidders have until January to submit proposals. Since the previous contract was awarded, a wave of consolidation has made the giants of the airport concessions business even bigger. The food and beverage and retail contracts at O’Hare’s domestic terminals are held by HMSHost and Hudson, which now are part of Swiss-based Avolta, formerly called Dufry.

Ald. Matt O’Shea, 19th, chair of the City Council’s Aviation Committee, which will have to approve contract awards, says that breaking up the overall pie into smaller contracts is the city’s way of “making sure there’s more opportunities.”

“I think the titans, so to speak, will definitely still be interested, but I think it will be an opportunity for them to assist small businesses to succeed,” he said.

Long time coming

The contracts to operate concessions in the domestic terminals — which are the airport’s busiest — have been in limbo for more than a decade.

HMSHost has held the food and beverage contract to serve

10 states for electric vehicle purchases

Ranked by new EV registrations throught the first six months of 2024

Terminals 1, 2 and 3 since 1999. The deal expired in 2012 and has been rolled over since. Although the city has talked several times about putting the contract out for bid, it has never come to pass. The concession contract took a back seat to plans to build a new international terminal and a new lease-and-use agreement for the airport that was completed in 2018.

The pandemic came next, pushing off the contract again, followed by a new mayor. The city had expected to bid out the contract earlier this year, but negotiations over the rebuild of Terminal 2 and the addition of two satellite concourses lasted until May.

HMSHost, based in Bethesda, Md., pays the city 16.75% of its gross sales. In 2019, the last full year before the pandemic, that worked out to $42 million in rent on $252 million in revenue. Concessionaires such as HMSHost get a cut of restaurants’ receipts. Hudson Group, based in East Rutherford, N.J., operates shops in the domestic terminals at O’Hare under a contract awarded a decade ago. In 2019, Hudson’s newsstand shops generated $66.6 million in sales, and it paid the airport $17.7 million.

The new 15-year contracts include rent of $55 per square foot, which increases 3% per year, as well as 12% to 15% of sales.

Crain's reporter Justin Laurence contributed.

installing chargers along interstates as part of a nationwide program funded by the Inflation Reduction Act.

Illinois also previously awarded its own funds to build publicly accessible chargers. The state has spent $82.6 million since last year to fund 2,000 fast-charging ports and 638 Level 2 chargers, which will come online this year and next.

By some estimates, that will give the state about half the public charging ports it needs to support 1 million EVs.

Federal funds are expected to provide about $149 million over five years to build out public chargers, with the goal of having one for every 50 miles of interstate, adding roughly 1,000 charging ports.

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they’ve slowed down the speed of the transition.

"Overall, the EV journey has been humbling," CEO Jim Farley said on Ford's earnings call in July. The company said last month it will cut investment in EV powertrains 25% — to a little less than one-third of its overall capital spending. Consulting firm EY found that consumers say they are less inclined to purchase an EV this year than they were last year. EY surveyed roughly 1,500 Americans and found that 34% of those planning on purchasing a new vehicle in the next two years intended to buy an EV, down from 48% last year, Automotive News reports.

McKinsey says 46% of EV owners it surveyed in the U.S.

are likely to go back to internalcombustion vehicles. The top concerns are lack of chargers and vehicle cost.

Chargers fuel sales

Illinois has one of the lowest amounts of public chargers per EV in the country, according to data compiled by digitalmapping company Here Technologies and research firm SBD Automotive. Growth in EVs is outpacing the growth in charging capability, and the buildout of public charging points in Illinois has lagged other states, SBD says. But the state is working to solve that problem. Last week, Pritzker announced $25 million in grants to companies who are

Commonwealth Edison, meanwhile, rolled out an incentive program in February to encourage residents and private businesses to install charging facilities, offering rebates of $2,500 to $3,750 for individuals. Roughly $90 million is allocated for the program this year, most of which is targeted at commercial and industrial users, including those with large fleets of vehicles.

So far, ComEd says it has incentivized 2,000 EV charging ports, 1,500 of which are residential. Most EV charging is done at home.

“We’re seeing some positive signs,” says Cristina Botero, who oversees ComEd’s EV programs. “There are three pieces that are holding customers back: the upfront costs, the charging infrastructure and education.”

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