Steve Grzanich has the business news of the day with the Wintrust Business Minute.

There’s some improvement to report in the retail vacancy rate on Chicago’s Magnificent Mile. Crain’s reports the rate dropped to 29.3% in July. That’s down from 34% in 2023. The report says it’s the first year-over-year drop in a decade. New tenants include Mango and retailer Uniqlo, and one broker says there’s been more activity in the last two years than the previous five or six. Foot traffic is also up, recovering to 91% of 2019 levels. Much of the activity has been moving south toward the Chicago River, with the northern most part of the Mag Mile seeing the highest vacancy rate.

Also, new data today shows 87% of U.S. households visited McDonald’s in the past year with an average of 53 visits. Listen for more below: