* Jim Daley at the South Side Weekly…
The City spent at least $3.25 million on the 2023 NASCAR Chicago Street Race, according to a preliminary analysis by the Weekly. That figure includes more than $2.1 million spent on repairs to the streets that made up the racecourse and an estimated $1.1 million in police overtime associated with the race. The final tally, which could include additional costs such as traffic management, will likely be even higher. […]
NASCAR’s contract is for three years, but it allows either the City or the car-racing company to cancel it. In the deal Lightfoot’s administration inked, NASCAR was required to pay the Chicago Park District a $500,000 fee in the first year along with fifteen percent of concessions and $2 for each ticket sold in its first year (ticket prices started at $269). The fee is slated to increase to $550,000 in 2024 and $605,000 in 2025. […]
According to the document CDOT provided, the street work alone cost $2.15 million. […]
Much of that—nearly $1.8 million—was listed as “Engineering” costs related to concrete, pavement, and landscape work on streets and sidewalks along the racetrack before the race. CDOT replaced the curb and sidewalk on the west side of Columbus Drive, resurfaced and repaved roadways, and installed bus pads for the event. The total budget allocated to CDOT’s Engineering division for 2023 is $7.87 million; the NASCAR-related work ate up about twenty-three percent of that division’s annual budget. […]
A NASCAR-commissioned study predicted the event would generate millions in tax and sales revenue for the City and local businesses. It’s unclear how accurate those numbers were. Choose Chicago, the City’s tourism bureau, has commissioned an economic impact study on the race by researchers at Temple University, Crain’s reported last week.
Discuss.
- Homebody - Friday, Jul 28, 23 @ 1:40 pm:
Who doesn’t love giving free services to profitable private businesses?
- Shalamar - Friday, Jul 28, 23 @ 1:50 pm:
great job Lori Lightfoot!
- Lucky Pierre - Friday, Jul 28, 23 @ 1:54 pm:
The residents and visitors to Chicago will enjoy the benefits of concrete, pavement and landscaping improvements to the Crown jewel of Chicago’s lakefront for years to come.
- TheInvisibleMan - Friday, Jul 28, 23 @ 1:56 pm:
I’m still having a hard time grasping why this even exists in the first place.
I honestly thought it was a joke when I first heard about it. I still do, but for different reasons now.
- ANNON'IN - Friday, Jul 28, 23 @ 2:02 pm:
Seems like the race was a hit. Guessin’ curbs streets needed fixing regardless. Hope it returns. Better images than our youth beating each other on Downtown streets.
- Cool Papa Bell - Friday, Jul 28, 23 @ 2:06 pm:
Balance it out with revenue from hotel taxes, sales tax on food and the like. A full accounting is needed for sure.
I spoke to someone who was at the event, connected to a race sponsor, and they loved it. Thought the race setup and everything was first class. Too bad about the rain.
- Lucky Pierre - Friday, Jul 28, 23 @ 2:06 pm:
Despite some pretty significant weather delays was the highest rated NASCAR race since 2017
That fact alone should help get tourism to Chicago back to where it was Pre Covid
https://www.sportsvideo.org/2023/07/07/ratings-roundup-chicago-street-race-is-nbcs-most-watched-nascar-race-in-six-years-espns-f1-austrian-gp-scores-best-live-u-s-tv-audience-ever/
- Sue - Friday, Jul 28, 23 @ 2:08 pm:
At least it filled hotels with revenue paying patrons. Would you rather have the ongoing 109’s of millions being spent on the undocumented which is itself adding to the homeless crisis. Sure progressives demand liberal immigration policies then hold up taxpayers with added taxes to pay for the folks here illegally
- P. - Friday, Jul 28, 23 @ 2:19 pm:
Sue about to hit the being wrong cycle today. Hotel rates were lower than the same time period last year. Keep swinging.
Next time you visit, please share pictures of the NASCAR “landscaping improvements.”
After all that was promised we’re settling for yay they gave us curbs?
- Oswego Willy - Friday, Jul 28, 23 @ 2:21 pm:
Oh - Sue -
You’re worshipping of the dollar and your jacking of compassion for other human beings “because liberals” reminds me how phony others try to say they’re “Christians” but never see anything Christian worth supporting.
You’re in a roll today, lol
To the post,
If it can continue to be a “boon”, the costs need to be outweighed by the real costs too…
- Jibba - Friday, Jul 28, 23 @ 2:26 pm:
The publicity and the buzz of this kind of event can have long coattails that are hard to predict. A full accounting is needed, but it is not clear that the race needs to be in the black to have ben a success for Chicago, especially in year 1.
- Amalia - Friday, Jul 28, 23 @ 2:30 pm:
even dumber than we thought they were!
- Pot calling kettle - Friday, Jul 28, 23 @ 3:02 pm:
==Better images than our youth beating each other on Downtown streets.==
Imagine if that $$ had been spent on programs for those youth instead of on entertaining well-off adults.
- Thomas Paine - Friday, Jul 28, 23 @ 3:03 pm:
=== he highest rated NASCAR race since 2017 ===
Strangely no mention of a revenue sharing with the city
=== should help get tourism to Chicago back to where it was ===
Except that the #1 market for viewers was….Chicago
- Just the Facts - Friday, Jul 28, 23 @ 4:31 pm:
Alleging that spending $2 million to repair streets and curbs is somehow an inappropriate expense is just goofy. The benefit of the repairs will be seen by drivers and pedestrians for years. I’m happy to see all of the activity taking place in the city again. It’s good for business.
- Oswego Willy - Friday, Jul 28, 23 @ 4:35 pm:
===The benefit of the repairs will be seen by drivers and pedestrians for years.===
Isn’t that an opinion, not really a fact until it’s seen… over those years.
Meanwhile, the cost is the cost.
- New Day - Friday, Jul 28, 23 @ 4:45 pm:
“Despite some pretty significant weather delays was the highest rated NASCAR race since 2017
That fact alone should help get tourism to Chicago back to where it was Pre Covid”
It gives me such pleasure to be on the opposite side of you on this as with most things. Ratings have zero to do with whether it was good for the City. I work in the area. It was a ghost town in the few days before the race. People were avoiding downtown in droves. Restaurants were empty. On the day before the race, you didn’t have the usual teeming streets on Michigan Avenue. It was dead. And there were no NASCAR fans running around the way the Swifties were two weeks earlier or the way the Lolla people will be. For the City, the race was a good PR stunt. For a few zealous race fans, they had a blast. But for the City, with museums closing and restaurants empty, I have zero doubt the final accounting will show the race was a bust.
- New Day - Friday, Jul 28, 23 @ 4:49 pm:
“At least it filled hotels with revenue paying patrons. Would you rather have the ongoing 109’s of millions being spent on the undocumented which is itself adding to the homeless crisis. Sure progressives demand liberal immigration policies then hold up taxpayers with added taxes to pay for the folks here illegally”
No it didn’t. Hotels were less full July 4th weekend than they were last year. They were hoping for a Taylor Swift occupancy rate of 97% but instead they got 79% which is consistent with what I saw first hand.