Chicago's street festivals are having an existential crisis. Crain's reporter Ally Marotti explains the growing plight to host Amy Guth.

Plus: Chicago taps Loop Capital founder to fix $1 billion budget hole, U of I's scrapped Discovery Partners Institute project in South Loop to undergo state audit, Hub International lands $29 billion valuation in $1.6 billion round and a mixed-income housing plan for old Cabrini grounds lines up $46 million for final phase.