DRUMROLL, PLEASE! Our Ranked List of the Area's Fastest-Growing
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CHICAGOBUSINESS.COM | OCTOBER 12, 2020 | $3.50 DRUMROLL, PLEASE! Our ranked list of the area’s fastest-growing companies, plus pro les of the top ve. SECTION BEGINS ON PAGE 14 Divey Gulati, left, and Dhruv Saxena of ShipBob, which took the No. 1 spot on our list. PHOTO BY KENDALL KARMANIAN NEWSPAPER l VOL. 43, NO. 41 l COPYRIGHT 2020 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED Whatever your heart health challenge, we’re here for you. 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Advocate takes a turn for the worse eir apparent success in Loss of Beaumont blocking Advocate could en- deal reveals threats courage similar resistance to fu- ture acquisitions from doctors, to expansion plans communities and elected o- cials unwilling to see their local BY STEPHANIE GOLDBERG hospitals absorbed into a large, out-of-state chain. e setback e failed acquisition of a also raises new questions about Michigan hospital chain deals a how—and where—the $12 bil- blow to Advocate Aurora Health’s lion-revenue hospital system aggressive growth agenda. based in Downers Grove can nd Acquiring Southeld, Mich.- the growth it seeks. based Beaumont Health would e pool of potential acqui- have advanced the 26-hospital sition targets in the Upper Mid- chain’s goal of more than dou- west is shrinking. Chains in Ad- bling revenue within ve years. vocate’s Chicago and Milwaukee But the deal collapsed Oct. 2 strongholds likely are o-limits amid opposition from Beaumont due to antitrust concerns, and doctors and other staers, as well as Michigan lawmakers. See ADVOCATE on Page 31 Eateries and insurer JOHN R. BOEHM R. JOHN face off in Chicago Big case pits Billy Goat ing Fatpour Tap Works in Wicker 2020 IS GIVING CHICAGO Park and at McCormick Place; and the Purple Pig on Michigan and others against Avenue. small Wisconsin carrier eir claims against Fond du CONDO SELLERS A HEADACHE Lac-based Society Insurance, a BY STEVE DANIELS niche rm that insures hospi- Aspirin won’t x what ails a market heading into a dip BY DENNIS RODKIN tality industry businesses, have Owners of more than two doz- been consolidated under the su- CHICAGO’S CONDO MARKET is turning into a logjam, as in several weeks it was fewer than 325. en area restaurants and bars will pervision of U.S. District Judge far more properties come on the market than there’s “e condo market is quieter than I’ve ever seen have their day in a Chicago feder- Edmond Chang in Chicago. e demand for—and it may lead to a drop in prices. it,” says Linda Levin, a veteran downtown agent for al court as they battle a Wiscon- suits against Society are the only In the week ended Sept. 26 and most of the eight Jameson Sotheby’s International Realty. sin insurer over business-inter- ones of the multitude led against weeks prior, 1,000 or more condos came on the e reasons, Levin and other agents say, are ruption claims stemming from insurers across the country that market in Chicago, according to data posted Oct. 2020-related. “People are concerned about going government-ordered lockdowns have been consolidated thus far. 5 by the Chicago Association of Realtors. e ex- in elevators, they’re concerned about being in tied to the COVID-19 crisis. e decision makes Chica- ception was the week before Labor Day, when 911 conned common spaces,” Levin says, “they’re Among the plaintis are well- go a critical stage for determin- condos came on the market. concerned about what Michigan Avenue looks like known names like Billy Goat ing whether business insurers In that same eight-week stretch, buyers put few- Tavern; Big Onion Tavern Group, er than 400 condos under contract per week, and See CONDOS on Page 32 which owns seven spots includ- See INSURANCE on Page 30 JOE CAHILL NOTABLE ENTREPRENEURS The biggest movers among These 39 businesspeople represent Chicago-area stocks are in a range of young companies and sectors affected most heavily are helping to put Chicago on the by the pandemic, for better map as a growing center for or worse. PAGE 4 entrepreneurship. PAGE 19 2 OCTOBER 12, 2020 • CRAIN’S CHICAGO BUSINESS When will enough be enough, even for Madigan? ike the houseguest who pilloried in a fashion like never strongly denied he did anything stayed too long, Speaker Mike before, there is chatter about wrong in handling ComEd and its LMadigan has summarily scenarios that could nally lead to lengthy Springeld agenda, even rejected or otherwise ignored a ris- a change. But actually achieving though he’s referenced dozens GREG HINZ ing tide of pleadings that it’s time that change will require other of times in ComEd’s deferred ON POLITICS for him to move on after what is gures in Illinois government to prosecution agreement. “Helping approaching four decades (minus grow a backbone. Or federal pros- people nd jobs is not a crime,” two years) as leader of the Illinois ecutors to send up an indictment. he recently wrote a special House considers Madigan a loyal ally. a handful of seats in November, House. Or both. panel looking into whether he “He’s the devil we know,” says enough to allow a few insurgents e speaker for life, who rst Madigan has survived every- should be removed. “I cannot one former Democratic legislator. to vote against re-electing him got his job during Ronald Rea- thing, from chaos at City Hall and provide information I do not have, ere’s no clear successor, says speaker while leaving a majori- gan’s rst term as president in changing state demographics to and I cannot answer questions another. Special-interest groups ty behind the man who just got 1983, is showing no signs of grant- crooked governors of both parties. about issues of which I have no such as the abortion-rights crowd them elected. ing his critics’ wish anytime soon. e Energizer Bunny of state gov- knowledge.” made their deal with Madigan at all would change instantly “I fully expect he’ll be a candidate ernment just keeps on going, age at Sergeant Schultz “I know long ago. if Madigan actually is indicted. 78 or not. nothing” act has worn thin, es- ere’s one other reason I’ve Some lawmakers who nominally THAT SERGEANT SCHULTZ “I KNOW Still, the continu- pecially with Democratic women heard about recently. at’s the are still with Madigan may be ing Commonwealth who represent suburban areas upcoming legislative remap, in waiting for the feds to act rst, NOTHING” ACT HAS WORN THIN. Edison bribery scandal where Madigan’s reputation is in which every single lawmaker will guring they’ll take advantage has taken a bite from the dumper. Several of them have need Madigan on their side—as- of an opportunity if and when it for re-election” when House the Southwest Sider’s power and called for Madigan to step down. suming he’s still speaker, that arrives. ere’s also the possibility members meet after the Nov. 3 reputation like nothing he’s seen. But that’s not enough, with other is—if they’re to avoid political that Gov. J.B. Pritzker will make a election to select a new leader, While former Gov. Bruce Rauner progressives such as Chicago oblivion. Look at it as a game of move if his prized graduated in- says spokesman Steve Brown. “I spent millions on TV ads seeking state Rep. Will Guzzardi hiding musical chairs, with Madigan come tax amendment goes down think he’ll keep serving as long to demonize Madigan, “it came on the issue and the powerful assigning the chairs. on Nov. 3. at would be a game as (the job) is a challenge and his across as politics,” says one long- minority caucuses still on Madi- Meanwhile, Madigan is busily changer. health holds up.” time major political player who gan’s side. working to protect himself against So far, though, all Pritzker will Yet, in this toughest year of asked not to be named. “Now, Why? Madigan’s fundraising any surprises. With Joe Biden say is that “House members will his career, even Madigan has to it’s federal prosecutors. It’s more prowess still provides most of expected to sweep through make their own decisions.” So be wondering when enough is real.” the nancial fuel they need to suburban Chicago, Madigan’s he’s waiting. All of us are waiting. enough. Targeted and personally Madigan, of course, has win elections. Organized labor Democrats actually may pick up Someone cue Godot, please. How Pritzker may win by losing the ‘fair tax’ fight he ght over the graduated as it may sound, the extra revenue amendment.