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Chicago flood

1992 floods1992 in Illinois1992 industrial disastersApril 1992 events in the United StatesDisasters in Illinois
Engineering failuresFloods in the United StatesHistory of ChicagoUse mdy dates from January 2019

The Chicago flood occurred on April 13, 1992, when repair work on a bridge spanning the Chicago River damaged the wall of an abandoned and disused utility tunnel beneath the river. The resulting breach flooded basements, facilities and the underground Chicago Pedway throughout the Chicago Loop with an estimated 250 million US gallons (1,000,000 m3) of water. The remediation lasted for weeks, and cost about $2 billion in 1992 dollars, equivalent to $3.86 billion in 2021. The legal battles lasted for several years, and disagreement over who was at fault persists to this day.

Excerpt from the Wikipedia article Chicago flood (License: CC BY-SA 3.0, Authors).

Chicago flood
South Dearborn Street, Chicago Loop

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Wikipedia: Chicago floodContinue reading on Wikipedia

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Latitude Longitude
N 41.88 ° E -87.63 °
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Marquette Building

South Dearborn Street 132-146
60602 Chicago, Loop
Illinois, United States
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Chicago Loop
Chicago Loop

The Loop, one of Chicago's 77 designated community areas, is the central business district of the city and is the main section of Downtown Chicago. Home to Chicago's commercial core, it is the second largest commercial business district in North America and contains the headquarters and regional offices of several global and national businesses, retail establishments, restaurants, hotels, and theaters, as well as many of Chicago's most famous attractions. It is home to Chicago's City Hall, the seat of Cook County, and numerous offices of other levels of government and consulates of foreign nations. In it, at the intersection of State Street and Madison Street, is the origin of Chicago's street grid addresses, established in 1909. Most of Grant Park's 319 acres (1.29 km2) are in the eastern section of the community area. The Loop community area is bounded on the north and west by the Chicago River, on the east by Lake Michigan, and on the south by Roosevelt Road, although the commercial core has greatly expanded into adjacent community areas. The United States Army erected Fort Dearborn in 1803 in what is now the Loop, the first settlement in the area sponsored by the United States' federal government. When Chicago and Cook County were incorporated in the 1830s the area was selected as the site of their respective seats. Originally mixed use, the character of the area became commercial starting in the 1870s, especially after it was mostly destroyed in the Great Chicago Fire of 1871. At that time some of the world's earliest skyscrapers were constructed in the area, starting a legacy of architecture that continues to this day. In the late 19th century cable car turnarounds and a prominent elevated railway loop encircled the area, giving the Loop its name. Starting in the 1920s many highways were constructed in the Loop, most prominently U.S. Route 66, which opened in 1926 with its eastern terminus in the area. While dominated by offices and public buildings, its residential population boomed during the latter 20th century and first decades of the 21st; its population has increased the most of Chicago's community areas since 1950.

Chicago Federal Building
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The Chicago Federal Building in Chicago, Illinois was constructed between 1898 and 1905 for the purpose of housing the Midwest's federal courts, main post office, and other government bureaus. It stood in The Loop neighborhood on a block bounded by Dearborn, Adams and Clark Streets and Jackson Boulevard. The site held an 1880 post office, courthouse and customhouse which was cleared to make way for the new building. The 1905 building was itself demolished in 1965 and replaced with the Kluczynski Federal Building. The push for a new building was spearheaded by postmaster Washington Hesing with backing by civic leaders and Illinois's members of Congress. The explosion of Chicago's population, especially after the World's Columbian Exposition of 1893, strained the earlier facility beyond capacity. When the Exposition began, the Post Office Department in Chicago employed 998 clerks and 935 carriers. By the time Congress approved funding for a new building, the post office had expanded to 1,319 clerks and 1,096 carriers. Other agencies housed in the building complained of poor planning and shoddy construction which resulted in crumbling plaster, broken plumbing and flooding.The new building was designed in the Beaux-Arts style by architect Henry Ives Cobb. The floorplan was a six-story Greek cross atop a two-story base with a raised basement. The building was capped by a dome at the crossing that held an additional eight floors of office space in its drum for a total of 16 floors. The gilt dome extended 100 ft (30 m) above the drum.

Center for Research in Security Prices

The Center for Research in Security Prices (CRSP) is a provider of historical stock market data. The Center is a part of the Booth School of Business at the University of Chicago. CRSP maintains some of the largest and most comprehensive proprietary historical databases in stock market research. Academic researchers and investment professionals rely on CRSP for accurate, survivor bias-free information which provides a foundation for their research and analyses. As of 2020, CRSP claims over 500 clients. The name is usually pronounced "crisp". CRSP was founded in 1960 by James H. Lorie (professor of finance and director of research) and Lawrence Fisher (assistant professor of finance) of the University of Chicago, with a grant from Merrill Lynch, Pierce, Fenner & Smith. Its goal was to provide a source of accurate and comprehensive data that could be used to answer basic questions about the behavior of stock markets. The first effort of the Center was the production of a database consisting of monthly stock prices on the New York Stock Exchange for all common stocks from 1926 to 1962. Dividends, shares outstanding, capital changes, and delisting information was also included. Taken together, this data made possible the first comprehensive study of the rates of return on common stocks. Since then the database has been kept up to date to the present day, daily data has been expanded back to 1926, and other exchanges and financial instruments have been added. On January 1, 2020, CRSP spun off from Chicago Booth and became CRSP, LLC. CRSP, LLC is an affiliate of the University of Chicago Booth School of Business. CRSP's flagship databases include: Common stocks on the NYSE from 1926, AMEX from 1962, and NASDAQ from 1972 CRSP Indexes NASDAQ and S&P 500 Composite Indices NASDAQ and AMEX Industry Indices US Treasury bonds Survivor bias-free mutual funds Market capitalization reports; Proxy graphs for 10-K SEC filings Other custom datasetsIn partnership with Compustat, CRSP provides the CRSP/Compustat Merged Database, and in partnership with the Ziman School of Real Estate at UCLA's Anderson School of Business, the CRSP/Ziman REIT Data Series.