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

The Illinois Center office complex in Chicago is heading to foreclosure. Crain’s reports the building’s owner has been hit with a foreclosure lawsuit. The Illinois Center complex is at 111 E. Wacker and 233 N. Michigan. The lawsuit was filed by Deutsche Bank and it alleges the building’s owner, AmTrust, has failed to make loan payments since January. Illinois Center is one of the largest downtown Chicago office properties to fall into distress. Remote work and high interest rates have negatively impacted the local office market. 

Legislation has been introduced in Illinois to regulate the use of artificial intelligence by insurance companies in making coverage decisions. Listen for more below: