So far Chicago home prices appear to be bullet proof against higher mortgage rates
S&P Dow Jones CoreLogic released the April Case Shiller home price indices for the Chicago area and the nation and there is still no sign of higher mortgage rates slowing down home price appreciation. But in all fairness the April data is really an average of the three months ending in April so it’s a bit too soon to declare a non-event.
The nation’s home prices advanced 20.4% over the prior 12 month period, which is only down slightly from the 20.6% number for March. The Chicago area continues to lag the rest of the country, coming in 2nd to last place among the 20 metro areas followed with 13.0% appreciation. That’s up just a tad from March’s 12.9% and it’s the 12th consecutive month with double digit year over year gains.
Condominium/ townhome price appreciation set another record for annual price appreciation over the last (almost) 8 years of 6.7%.
Chicago area single family home prices have shown annual gains for 114 consecutive months.
Craig J. Lazzara, Managing Director at S&P DJI, tried to make the case that the slight decline in home price appreciation from March was actually a sign of mortgage rate related slowing. But I did not find him persuasive. However, he did point out that this data does not yet reflect the highest mortgage rates we’ve seen recently:
We noted last month that mortgage financing has become more expensive as the Federal Reserve ratchets up interest rates, a process that had only just begun when April data were gathered. A more-challenging macroeconomic environment may not support extraordinary home price growth for much longer.
Case Shiller Chicago Area Home Price Index By Month
The graph below shows the actual Case Shiller Chicago area index values by month going back to 1987 along with a trend line that I developed based upon pre-bubble single family home prices. Single family home prices rose by 1.9% from March. Now there is a lot of seasonality in these numbers but, still, that just happens to be the largest one month change in 8 years. Condominium prices rose by 1.1% in that one month.
That trend line is really interesting because ever since the housing crash prices fell below the line and stayed there for about 10 years. Only since the pandemic have we started to close the gap, which is still 17.1%.
Single family home prices have risen 76.4% from the bottom of the housing crash and now surpass their previous peak by 7.5%. Condos and townhomes have jumped 70.2%, finally passing their peak by 2.9%.
The Chicago area real estate market finally surpassed bubble peak prices in August and may actually catch up to the trend line.
#ChicagoHomePrices #CaseShiller #HomePrices
Gary Lucido is the President of Lucid Realty, the Chicago area’s full service real estate brokerage that offers home buyer rebates and discount commissions. If you want to keep up to date on the Chicago real estate market or get an insider’s view of the seamy underbelly of the real estate industry you can Subscribe to Getting Real by Email using the form below. Please be sure to verify your email address when you receive the verification notice.
After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.
As the NBA free agency period opened up, there were a couple dozen moves within the first two hours. But, the Chicago Bulls stayed silent.
The word on the street was that a Zach LaVine decision was not coming immediately after the gates opened, but that he would meet with other teams before an announcement came. With that in mind, fans had to succumb to the reality that a big move might not be happening quickly.
Later on Thursday night, though, the Bulls did accomplish the number one thing general manager Marc Eversley wanted to do aside from a LaVine deal: sign a rim protector to compliment Nikola Vucevic.
Chicago went out and signed veteran big man Andre Drummond to a two-year deal worth $6.6 million
Andre Drummond is precisely what the Chicago Bulls needed and fills a big hole in their roster.
Just a couple of days ago, it was announced that Tony Bradley was opting into his $2 million for the coming season. Still, the Bulls wanted to find an upgrade. Bradley had to know he wasn’t going to get paid elsewhere, so he took the money.
Drummond now comes in and takes the backup center role, and he’ll play it well.
After spending several seasons with the Detroit Pistons to begin his career, Drummond has bounced around. Recently, he’s found himself on teams that thought they could contend for a title: the Philadelphia 76ers and Brooklyn Nets.
Just before those stops, Drummond played with LeBron James and the Los Angeles Lakers. He had spent so many years with a losing franchise in Detroit, that it was time for him to try and win.
The biggest advantage Drummond brings to the Bulls is his ability to rebound at a high level. Last year, with the Sixers, Drummond didn’t even play 19 minutes per game but averaged 8.8 rebounds.
Then, after he signed with Brooklyn, Drummond played 22 minutes per game and averaged a double-double: 11.3 points and 10.3 rebounds.
For a guy playing average minutes, Drummond was as efficient on the glass as you could possibly be in his role. He has been one of the league’s best rebounders for his entire career. Although Drummond doesn’t offer much offensively, he’ll dominate the glass.
Bulls fans likely remember the horror that was seeing the bench unit give up so many offensive rebounds. It was painful to watch; so painful, at times, that local announcers Stacey King and Adam Amin were visibly and vocally disgusted on air. They felt the fans’ pain.
No longer will that be the case, though, as Drummond will be all over the glass. The Bulls wanted a rim protector, and that’s exactly what they got. At just 28 years old, too, Drummond has plenty left in the tank.
Denver Nuggets star Nikola Jokic has agreed to the largest contract in NBA history — a five-year, $270 million supermax extension, his agents, Jeff Schwartz and Mike Lindeman of Excel Sports, told ESPN on Friday.
Jokic, the two-time reigning Most Valuable Player, is now secured to the Nuggets for a total of six seasons for $303 million.
The deal includes a player option and a trade kicker. The contract will kick in during the 2023-24 season at $46.6 million and climb every season until 2027-28, when Jokic is set to make $61.5 million.
A second-round draft pick, Jokic has evolved into one of the improbable forces in the history of the game, a transformative offensive talent who has secured back-to-back league MVP awards.
Jokic, 27, averaged 27.1 points, 13.8 rebounds and 7.9 assists in 74 games for the Nuggets last season, as he edged out Philadelphia 76ers center Joel Embiid to win the league’s top individual honor for a second straight season, becoming the 15th player to win at least two MVP awards in his career and the 10th to win them in back-to-back seasons.
He became eligible for the supermax when he won his first MVP award following the 2021 season, setting him up to extend through the remainder of his prime in Denver. Players qualify for the supermax by being named to an All-NBA team or winning Defensive Player of the Year in either the most recent season or the two prior seasons, or by winning the league’s MVP award in any of the past three seasons.
Now a four-time All-Star and three-time All-NBA selection, Jokic has become arguably the greatest passing big man in the history of the sport, essentially operating as a point guard for Denver in a 6-foot-11 body.
Jokic, who was born in Sombor, Serbia, was the No. 41 overall pick in the 2014 NBA draft. He came to the league a year later and quickly made himself an essential part of Denver’s plans before blossoming into an All-Star for the first time in the 2018-19 season.
Jokic’s ascension to All-Star status the past four seasons has coincided with Denver rocketing up the Western Conference standings and making the postseason four times in a row — including a trip to the 2020 Western Conference finals inside the NBA’s bubble at the Walt Disney World Resorts in Orlando, Florida.
Now, Jokic and Denver will head into next season hoping to make it to the NBA Finals for the first time in franchise history, presumably with Jamal Murray, who missed last season with a torn ACL he suffered in the spring of 2021, and Michael Porter Jr., who missed the vast majority of last season after undergoing back surgery, both on the court alongside him again.
With Murray missing each of the past two postseasons, Denver lost in the second round to the Phoenix Suns in 2021, and in the first round to the eventual champion Golden State Warriors this past season.
Denver began reshaping its roster ahead of next season by trading guards Monte Morris and Will Barton to the Washington Wizards earlier this week in exchange for guards Kentavious Caldwell-Pope and Ish Smith, with Caldwell-Pope likely to slot into Denver’s starting lineup as a 3-and-D wing next to Murray in the backcourt.
ESPN NBA reporter Tim Bontemps contributed to this report.
Durant’s teammate Kyrie Irvingopted into his $36.5 million option with the team on Monday after failing to receive any sign-and-trade interest from teams other than the Los Angeles Lakers. Irving and Durant had not had any contact with the Nets since Irving opted into his deal on Monday.
The Phoenix Suns and Miami Heat are two of the teams Durant has at the top of his list, sources told ESPN. Nets general manager Sean Marks is working with Durant and his business manager Rich Kleiman to find a trade, Kleiman told ESPN.
Durant averaged 29.9 points, 7.4 rebounds and 6.4 assists this season but played just 55 games during the regular season as he recovered from an MCL injury. Irving played just 29 regular-season games after deciding not to get the COVID-19 vaccine, making him ineligible to play home games in New York.
News of Durant’s trade request put the NBA on alert, with many players taking to social media to react to the news.
NBA free agency began today at 6 p.m. ET, but early news out of New York sent the league into a frenzy. Brooklyn Nets star Kevin Durant asked owner Joe Tsai for a trade this morning, listing the Miami Heat and Phoenix Suns as his preferred destinations.
Durant’s teammate, Kyrie Irving, opted in to his $36.5 million player option on Monday, but now his future in Brooklyn seems uncertain, as ESPN’s Brian Windhorst reported that Durant and Irving still want to play together — just not in Brooklyn.
Elsewhere in the NBA, James Harden ($47.4 million) and Bradley Beal ($36.4 million) both declined their player options on the eve of free agency. Beal signed a five-year, $251 million max contract with the Washington Wizards minutes into free agency, but no deal has been done for Harden.
With Brunson off the table, some of the biggest remaining names include Zach LaVine and Deandre Ayton, who could provide a major boost to a new franchise if they choose a change of scenery.
A host of young stars are also eligible for rookie contract extensions. While the Memphis Grizzlies and Ja Morant are all but certain to agree on a max deal, what does the future hold for the New Orleans Pelicans and Zion Williamson, who has played in just 85 games throughout his first three seasons because of injury and missed all of 2021-22 with a broken foot?
Keep it here all offseason long for the latest buzz, news and reports surrounding NBA free agency.
10:28 p.m. ET: Free agent center Andre Drummond has agreed to a two-year, $6.6M deal with the Chicago Bulls, sources tell ESPN. The second year is a player option.
9:33 p.m. ET: Free-agent guard Jalen Brunson has agreed to a four-year, $104 million deal with the New York Knicks, his agents Aaron Mintz and Sam Rose of CAA Basketball tell ESPN’s Adrian Wojnarowski. The deal includes a player option on the final season. Brunson is the first player in NBA history to sign a $100 million deal with a new team, despite having never been voted an All-Star, according to ESPN Stats & Information.
9:01 p.m. ET: Free-agent guard Delon Wright has agreed to a two-year, $16 million deal to sign with the Washington Wizards, his agent Greg Lawrence of Wasserman tells ESPN’s Adrian Wojnarowski. Wright averaged 4.4 PPG with the Atlanta Hawks last season.
8:25 p.m. ET:Orlando Magic guard Gary Harris has agreed on a two-year, $26 million contract extension, his agents Austin Brown and Aaron Mintz of CAA Basketball told ESPN’s Adrian Wojnarowski. Harris has averaged 10.1 PPG with the Magic since being acquired from the Denver Nuggets in the 2020-21 season.
8 p.m. ET:Anthony Gill is signing a two year-deal with the Washington Wizards, sources told ESPN’s Adrian Wojnarowski. Gill has averaged 3.7 points in 70 games for Washington over the past two season.
7:46 p.m. ET:Juan Toscano-Anderson has agreed to a deal with the Los Angeles Lakers, his agent Erika Ruiz confirmed to ESPN’s Kendra Andrews. Toscano-Anderson spent the past three seasons with the Golden State Warriors, winning the NBA title in 2022.
7:31 p.m. ET: The Los Angeles Lakers have agreed to a one-year, veterans minimum contract with Troy Brown Jr., a Lakers source confirmed to ESPN’s Dave McMenamin. The 22-year-old is a defensive-minded wing, standing 6-foot-6 with a 6-10 reach.
7:17 p.m. ET:James Harden and the Philadelphia 76ers are meeting over the weekend to negotiate his new deal, sources tell ESPN’s Adrian Wojnarowski.
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Brian Windhorst and Tim Bontemps discuss James Harden’s decision to decline his player option and how it impacts the 76ers.
7:14 p.m. ET: Restricted free-agent center Nic Claxton has agreed on a two-year, $20 million deal to return to the Brooklyn Nets, sources tell ESPN’s Adrian Wojnarowski. Claxton averaged 8.7 points and 5.6 rebounds in 47 games for Brooklyn last season.
7:13 p.m. ET: The Los Angeles Lakers are signing guard Lonnie Walker IV to a one-year contract with the $6.5 million midlevel exception, his agent, Rich Paul of Klutch Sports, confirmed to ESPN’s Dave McMenamin. The 23-year-old averaged 12.1 points, 2.6 rebounds and 2.2 assists for the San Antonio Spurs last season.
7:02 p.m. ET: Free-agent guard Jalen Brunson, armed with a five-year, $106 million-plus offer from the Dallas Mavericks, is headed into a meeting with the New York Knicks within the hour, sources tell ESPN’s Adrian Wojnarowski.
6:54 p.m. ET: Free-agent guard Patty Mills has agreed to return to the Brooklyn Nets on a two-year, $14.5 million deal, his agent Steven Heumann of CAA Basketball tells ESPN’s Adrian Wojnarowski. Mills gets a raise off the $6.2 million player option that he declined.
6:23 p.m. ET: Free-agent guard Trevelin Queen has agreed to a deal with the Philadelphia 76ers, sources tell ESPN’s Adrian Wojnarowski. Queen averaged 4.4 points in 10 games with the Houston Rockets last season.
6:21 p.m. ET: Free-agent forward Nicolas Batum has agreed to a two-year deal to return to the LA Clippers, sources tell ESPN’s Adrian Wojnarowski. Batum had declined his $3.3 million player option for 2022-23, allowing him to re-sign for significantly more.
6:19 p.m. ET: Free-agent guard Luguentz Dort has agreed to a five-year, $87.5 million deal to stay with the Oklahoma City Thunder, his agent Thad Foucher of Wasserman tells ESPN’s Adrian Wojnarowski. The Thunder had declined Dort’s $1.9 million team option for 2022-23 to make him a restricted free agent this summer, rather than risk losing him to unrestricted free agency next year.
6:17 p.m. ET: Free-agent center Damian Jones has agreed to a two-year deal with the Los Angeles Lakers, sources tell ESPN’s Adrian Wojnarowski. Jones’ agent, Austin Brown of CAA Basketball, tells ESPN the second year is a player option.
6:15 p.m. ET:Amir Coffey has agreed to a three-year, $11 million deal with the LA Clippers, his agents Bill Duffy and Marlon Harrison of BDA Sports and WME Sports tell ESPN’s Adrian Wojnarowski. Coffey spent his first two-plus seasons with the Clippers on a two-way contract before being converted to a full deal in March.
6:11 p.m. ET: Free-agent guard Tyus Jones is returning to the Memphis Grizzlies on a two-year, $30 million deal, his agent Kevin Bradbury of REP1 Basketball tells ESPN’s Adrian Wojnarowski. Jones averaged 8.7 points and 4.4 assists for the Grizzlies last season.
6:04 p.m. ET: Free-agent forward Bobby Portis is returning to the Milwaukee Bucks on a four-year, $49 million contract, his agent Mark Bartelstein of Priority Sports tells ESPN’s Adrian Wojnarowski. Portis turned down his $4.6 million player option for 2022-23 earlier this week.
5:40 p.m. ET: The Dallas Mavericks and Milwaukee Bucks are expected to aggressively pursue free-agent center JaVale McGee, sources told ESPN’s Tim MacMahon. The 14-year veteran played 15.8 minutes per game last season with the Phoenix Suns.
5:39 p.m. ET: On NBA Today, ESPN’s Brian Windhorst reported league executives have floated the idea that if the Brooklyn Nets trade Kevin Durant and Kyrie Irving together, the Los Angeles Lakers are a possible destination.
4:15 p.m. ET: On NBA Today, ESPN’s Adrian Wojnarowski said, “It’s hard to imagine a scenario where Kevin Durant is traded and Kyrie Irving remains in Brooklyn.” Irving opted into the final year of his contract earlier this week. Wojnarowski reported there will be teams that have interest in trading for Irving because he is on an expiring deal.
3:36 p.m. ET: After officially completing their trade with the Atlanta Hawks on Thursday, the San Antonio Spurs are expected to waive forward Danilo Gallinari, sources told ESPN’s Adrian Wojnarowski. Gallinari will be seeking the midlevel exception, with the Celtics, Heat and Bulls among the teams he has interest in, a source close to Gallinari told ESPN’s Dave McMenamin.
2:54 p.m. ET: ESPN’s Brian Windhorst reported on This Just In that after Kevin Durant‘s trade request, Brooklyn Nets point guard Kyrie Irving will likely be on the trade market as well. Windhorst added that he thinks Durant is going to try to force himself to the Phoenix Suns in a possible sign-and-trade deal involving Deandre Ayton.
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Brian Windhorst tabs the Suns as the leaders to trade for Kevin Durant, with the Heat as another contender.
2:52 p.m. ET: The Brooklyn Nets are acquiring the Utah Jazz‘s Royce O’Neale in a trade for a 2023 first-round pick, sources told ESPN’s Adrian Wojnarowski.
12:57 p.m. ET:Brett Brown has agreed to return to San Antonio to join Gregg Popovich’s staff as an assistant coach, sources told ESPN’s Adrian Wojnarowski. Brown spent six years, from 2007 to 2013, on Popovich’s staff before joining the Philadelphia 76ers, where he coached for the next seven seasons.
9:52 a.m. ET:Charlotte Hornets forward Miles Bridges was arrested in Los Angeles on Wednesday afternoon, a Los Angeles Police Department spokeswoman confirmed to The Associated Press on Thursday. TMZ reported that Bridges is facing felony domestic violence charges. Bridges, the Hornets’ leading scorer last season, is set to become a restricted free agent and could command a max contract in the coming weeks.
7:13 p.m. ET: The Sacramento Kings are exercising the option on Chimezie Metu for the 2022-23 season, sources tell ESPN’s Adrian Wojnarowski. Metu averaged 8.9 points and 5.6 rebounds in 21 minutes per game with the Kings last season.
Wednesday was the deadline to guarantee the $21.45 million contract of Gallinari. He had $5M in protection and the contract will be amended to increase the protection for this trade to work.
5:05 p.m. ET:Philadelphia 76ers star James Harden has declined his $47.3 million option and will become a free agent, sources told ESPN’s Adrian Wojnarowski. Harden can still negotiate a new long-term deal that would deliver the Sixers roster-building flexibility in free agency — including use of the full $10.5 million midlevel exception.
4:41 p.m. ET:Milwaukee Bucks forward Bobby Portis has informed the team that he’ll decline his $4.6 million option and become a free agent, his agent Mark Bartelstein of Priority Sports told ESPN’s Adrian Wojnarowski. The Bucks have early Bird rights on Portis and can re-sign him to a new deal starting at up to $11 million per season.
4:24 p.m. ET:Washington Wizards guard Bradley Beal has declined his $36.4 million option and will become a free agent, his agent Mark Bartelstein of Priority Sports told ESPN’s Adrian Wojnarowski. Beal is eligible to sign a five-year max contract to return to the Wizards, or sign elsewhere on a four-year deal.
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Adrian Wojnarowski reports on Wizards star Bradley Beal joining free agency.
4:02 p.m. ET: The Los Angeles Lakers announced they have picked up the team options on Stanley Johnson and Wenyen Gabriel for next season. Both players averaged 6.7 points per game for the Lakers last season.
12:50 p.m. ET: The NBA’s salary cap for the 2022-23 season is projected to come in at roughly $123.6 million, sources told ESPN. That is an $11.6 million increase from last year’s salary cap figure of $112 million.
Caldwell-Pope, a 10-year veteran, averaged 13.2 points per game in his lone season in Washington. Smith will play for his 13th team in 12 years upon joining the Nuggets. Previous stops include Pistons, 76ers, Suns, Thunder and Rockets.
9:43 p.m. ET: The New York Knicks have agreed to trade center Nerlens Noel, guard Alec Burks, a 2023 second-round pick, a 2024 second-round pick and $6 million to the Detroit Pistons, sources told ESPN’s Adrian Wojnarowski. The trade allows the Knicks to unload $19 million in salary, clearing cap space to try to sign free-agent guard Jalen Brunson.
8:10 p.m. ET:Minnesota TimberwolvesforwardTaurean Princehas agreed on a two-year, $16 million contract extension, sources told ESPN’s Adrian Wojnarowski. Prince averaged 7.3 points per game in 69 games for the Wolves last season.
5:08 p.m. ET:Los Angeles Clippers center Ivica Zubac has agreed on a three-year, $33 million extension, his agents Jeff Schwartz and Mike Lindeman told ESPN. The Clippers declined his $7.5 million team option for 2022-2023, clearing the way for Zubac’s new deal.
Zubac averaged a career high in points (10.3), rebounds (8.5) and blocks (1.0) last season.
4:44 p.m. ET: It is widely anticipated that former Dallas Mavericks guard Jalen Brunson will go to the New York Knicks on a four-year deal in excess of $100 million, sources told ESPN’s Tim MacMahon.
It remains to be seen how New York will clear the rest of the necessary cap space and whether the Mavs can work a sign-and-trade to recoup assets.
4:44 p.m. ET:Chicago Bulls center Tony Bradley is exercising his $2 million player option for next season, sources told ESPN’s Adrian Wojnarowski. On his fourth team in six seasons, Bradley averaged 3.0 points a game for the Bulls last season, a decrease from his career-high 8.7 points with the Oklahoma City Thunder in 2020-21.
He averaged 16 points in that span, yet averaged a career high 24.3 points in the 2020-21 season. Nembhard played in just 16 games last season, averaging 1.1 points a game.
10:54 a.m. ET: Los Angeles Lakers star Russell Westbrook is planning to exercise his $47.1 million option to return to the franchise for the 2022-23 season, sources told ESPN’s Adrian Wojnarowski. Westbrook, a nine-time All-Star and 2017 NBA Most Valuable Player, enters the final season of his original five-year, $206 million contract.
Westbrook has dealt with a heap of criticism following a subpar 2021-22 season alongside LeBron James and Anthony Davis. The point guard shot 29.8% from 3-point range and played only 21 games with James and Davis due to injuries.
“I think this is a really good thing for the Nets in this sense,” Friedell said. “The commitment isn’t there long term. This is a ‘prove it’ year, it now becomes one for Kyrie and if they bring everybody back, the feeling internally within that organization is that Kyrie is out there and Kevin [Durant] is playing at an MVP level and we get something from him, we can win. At what level can they win? That remains to be seen.”
June 27 updates
9:41 p.m. ET: The Houston Rockets and John Wall have reached a buyout agreement, shaving $6.5 million off of his $47.4 million salary, a source told ESPN’s Tim MacMahon. Wall is planning to sign with the LA Clippers once he clears waivers, sources told ESPN’s Adrian Wojnarowski.
7:01 p.m. ET:Kyrie Irving is opting in to his $36.5 million option with the Brooklyn Nets for next season, he told The Athletic on Monday. Without the ability to find a sign-and-trade deal, Irving decided to exercise his player option, sources confirmed. He had until Wednesday to make a decision.
Irving is now no longer eligible for a sign-and-trade deal. The Nets could still work to trade him as an expiring contract, but Irving would have no formal voice in a potential landing spot.
12:23 p.m. ET: Outside of the Los Angeles Lakers, there are no known teams planning to pursue a sign-and-trade deal for Brooklyn Nets guard Kyrie Irving, sources told ESPN’s Adrian Wojnarowski. No sign-and-trades can be formally discussed until after 6 p.m. ET on Thursday. Brooklyn isn’t believed to have interest in available Lakers packages. If Irving declines his $36 million player option, he would be eligible to sign with the Lakers for the $6 million taxpayer midlevel exception. The deadline is Wednesday to decide on his option.
8:30 a.m. ET: The Brooklyn Nets are not going to offer point guard Kyrie Irving a max contract in free agency this summer, ESPN’s Zach Lowe reported on Get Up. “The Nets are not going to be held hostage by the threat of Kyrie Irving and then Kevin Durant following him out the door,” Lowe said. “They appear ready to actually take some kind of stand here. That doesn’t mean that there’s not going to be a fair compromise offer somewhere.”
9:49 p.m. ET: The New York Knicks made multiple moves on draft night to free up cap space. They sent the No. 11 pick to the Oklahoma City Thunder, which took $4.5 million off their cap sheet, then sent Kemba Walker to the Detroit Pistons, clearing an additional $9.2 million in salary for 2022-23. Walker and the Pistons are expected to discuss a contract buyout that will allow him to become a free agent, sources told ESPN’s Adrian Wojnarowski.
6:13 p.m. ET: The Portland Trail Blazers have acquired forward Jerami Grant from the Detroit Pistons in exchange for a protected 2025 first-round pick and additional draft assets, sources told ESPN’s Adrian Wojnarowski. The Blazers absorb Grant’s $21 million salary using a trade exception, sources said. Grant, who is entering the final year of his contract, is eligible to sign a four-year, $112 million extension beginning in December. The Pistons, on the other hand, now have $43 million in salary-cap space for free agency.
2:13 p.m. ET:Golden State Warriors general manager Bob Myers said contract extensions for Andrew Wiggins and Jordan Poole are a “big priority,” adding, “We’ll make a big effort to keep those guys.” However, he understands those deals might not happen right away. The deadline for Poole to sign an extension off his rookie deal isn’t until Oct. 31, and Wiggins has no deadline for an extension off the max deal he signed while with the Minnesota Timberwolves.
12:06 p.m. ET:James Harden is headed toward opting into his $47.3 million player option and then extending his contract by perhaps as many as two years at a significant number with the Philadelphia 76ers, ESPN’s Adrian Wojnarowski reported on SportsCenter. Harden’s extension would likely fall short of a max contract but would still be a significant commitment from Philadelphia.
June 21 updates
5:01 p.m. ET: The Houston Rockets‘ John Wall has exercised his $47.4 million player option for the 2022-23 season, sources told ESPN’s Adrian Wojnarowski. The Rockets will continue to seek a trade for the 31-year-old guard, but the two sides are expected to work on a contract buyout if a swap can’t be found, sources told Wojnarowski. Wall averaged 20.6 points and 6.9 assists in 40 games for the Rockets in 2020-21 before being shut down.
12:55 p.m. ET:LA Clippers forward Nicolas Batum will decline his $3.3 million player option and become a free agent, sources told ESPN’s Adrian Wojnarowski. There is expected to be mutual interest in reaching a new deal in July, sources said. Batum started 54 of the 59 games he played, averaging 8.3 points and 4.3 rebounds in his second season with the Clippers.
June 19 update
11:43 a.m. ET:Denver Nuggets forward Jeff Green has exercised his $4.5 million player option for the 2022-23 season, sources told ESPN’s Tim Bontemps. Green had until Monday to decide whether to opt into the deal, according to ESPN’s Bobby Marks. Green, who will turn 36 in August, averaged 10.3 points in 75 games (63 starts) for Denver last season, his 11th team during his 14-year NBA career.
Third-year guard Jordan Poole, who is entering the last year of his rookie contract, has until Oct. 17 to negotiate a new deal with the reigning NBA champs.
Free agent center Andre Drummond has agreed to a two-year, $6.6 million deal with the Chicago Bulls, sources told ESPN’s Adrian Wojnarowski on Thursday. The second year is a player option.
The 28-year-old big man had a strong second half for the Brooklyn Nets after being dealt just before the trade deadline as part of the package that sent James Harden to the Philadelphia 76ers.
Nets players and coaches expressed an appreciation for how hard Drummond played down low as he averaged 11.8 points and 10.3 rebounds in 24 regular-season games with Brooklyn.
Drummond became a reliable presence on the floor with the Nets and a popular presence off it because of his easy-going personality. While Brooklyn had a variety of center options on the roster, including young big man Nic Claxton and veteran LaMarcus Aldridge, it was Drummond whom Nets coach Steve Nash usually trusted for heavier minutes down the stretch last season.
Reader senior writer Ben Joravsky riffs on the day’s stories with his celebrated humor, insight, and honesty, and interviews politicians, activists, journalists and other political know-it-alls. Presented by the Chicago Reader, the show is available by 4 p.m. Tuesdays through Fridays at chicagoreader.com/joravsky—or wherever you get your podcasts. Don’t miss Oh, What a Week!–the Friday feature in which Ben & producer Dennis (aka, Dr. D.) review the week’s top stories. Also, bonus interviews drop on Saturdays, Sundays and Mondays.
Chicago Reader podcasts are recorded on Shure microphones. Learn more at Shure.com.
With support from our sponsors
Chicago Reader senior writer Ben Joravsky discusses the day’s stories with his celebrated humor, insight, and honesty on The Ben Joravsky Show.
Reader senior writer Ben Joravsky riffs on the day’s stories with his celebrated humor, insight, and honesty, and interviews politicians, activists, journalists and other political know-it-alls. Presented by the Chicago Reader, the show is available by 4 p.m. Tuesdays through Fridays at chicagoreader.com/joravsky—or wherever you get your podcasts. Don’t miss Oh, What a Week!–the Friday feature in which Ben & producer Dennis (aka, Dr. D.) review the week’s top stories. Also, bonus interviews drop on Saturdays, Sundays and Mondays.
Chicago Reader podcasts are recorded on Shure microphones. Learn more at Shure.com.
With support from our sponsors
Chicago Reader senior writer Ben Joravsky discusses the day’s stories with his celebrated humor, insight, and honesty on The Ben Joravsky Show.
Ooof, you think the fight over abortion was nasty? Well it looks like it’s getting even worse now that it is in hands of messy democracy.
The Supreme Court decision overturning Roe v Wade, the 1973 landmark case that made abortion a constitutional right, was a bomb that scattered the fight onto 50 battlefields,
Man your stations. Lock and load. Fire when ready.
Pro-lifers, this is what you wanted. Are you ready? Have you got the organization, money, resources, and energy to man every battlefield against a more well-funded opponent?
Better yet, are you prepared to win graciously? No gloating? Respect the opposition? It’s all part of winning, you know
Same questions go for the losing pro-choicers. Can you shakes hand?
If the past few days are any indication, the insults, threats, mocking and even violence will be embedded in lengthy, disruptive 50-state fights over abortion rights and restrictions.
Let’s not.
Pro-lifers, can you not push for legislation that criminalizes abortions? Some states are considering it. Can you not give every Tom, Dick and Harry who doesn’t have a direct interest the power to file suit to halt abortions. Look up tort and what it says about injured parties. Will you’d hard-heartedly push to ban abortions to save the mother’s life?
Can you take to heart that so many women seek abortions because they are desperate? Can you prove that you care as much about the mother and the born baby as much as you care about saving the life of a pre-born person? If so, get out your check books and help pregnancy care centers such as Aid for Women. There, pregnant women receive compassionate support, medical services, education and in some cases even housing. These are operated by caring people who provide the important and realistic alternatives to abortion.
Pro-choicers can you denounce the violence committed against pregnancy care centers? Can you stop portraying pro-lifers as a loopy, far right cabal that cares nothing about women?
Can you, for a change, be honest about your ultimate goal–elective abortions for any reason at any time up to and including the moment of birth? Can you at least recognize the gruesome nature of abortion?
Can you recognize that a fetus at some stage is a person? Can we have a serious discussion about who’s a person, and bring voiceless innocents into the human family?
Can you acknowledge that by reversing Roe, the Supreme Court actually reinforced democracy by taking the decision out of the hands of unelected men and women?
Can both sides familiarize themselves with the decades of public opinion polling that demonstrates that most Americans want a middle ground? I’ve been trying to point this out in op-ed columns for decades. If we’re truly interested in enriching our democracy, we’ll see that the majority of Americans would allow abortions early terms in pregnancy, but with restrictions like parental notification.
While I was at the Chicago Sun-Times, a yet-again new editor-in-chief from Australia was truly puzzled by why the fight over abortion seemed to be omni-present in American politics? Because, I replied, because the Supreme Court took the issue out of the political realm by trying to resolve the issue by undemocratic decree. I pointed out that the democratic process in Europe had resulted mostly in abortion laws on the continent that generally were more restrictive than what was prescribed by Roe and ensuing American jurisprudence .
Years ago, I proposed that if we’re to legalize abortions, we should limit them to early pregnancy. How early? Some say viability, others said the first heart beat. I proposed that we use the same standard definition of death: When organized brain activity stops. I don’t know when that is or how that should be measured.
I’m pro-life. I accept the idea that in a democracy, the people through their elected representatives should set abortion policy. I have not always followed my own advice to avoid vindictive debate. I’m working on it.
But because we’re a democracy and not an autocracy, the Supreme Court has given us an opportunity to come to a mutual understanding that is graceful and compassionate.
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In 2016, Monty Cole made his directorial debut in Chicago with Eugene O’Neill’s The Hairy Ape at now-defunct Oracle Productions—and what a debut it was. His staging of the story of Yank, a swaggering stoker on a steamship who is ultimately destroyed by a society that sees him only as a brute, brought together a stellar ensemble of six Black actors. Cole incorporated percussive live sound and hypnotic movement interludes in O’Neill’s expressionistic text, while interpolating subtle call-outs to contemporary abuses of Black men by police and others.
Cole, a native of Oak Park, has been busy since then: he went off and got an MFA in directing at the California Institute of Arts, and he’s also been developing his voice as a playwright; American Teenager was written as a commission from the Goodman, where Cole was part of the 2019-20 cohort for the theater’s Playwrights Unit, and the Repertory Theatre of St. Louis is currently developing his stage adaptation of John Howard Griffin’s Black Like Me, in which the white Griffin recounted his travels in the Jim Crow south disguised as a Black man.
Fences 7/1-8/6: Thu-Fri 7:30 PM, Sat 2:30 and 7:30 PM, Sun 2:30 PM; no performances Sat 7/9 2:30 PM and Sat 8/6 7:30 PM; Theater Wit, 1225 W. Belmont, 773-975-8150, americanbluestheater.com, $25-$45
For his first live production onstage in Chicago since the pandemic, Cole is digging into a contemporary Black classic: August Wilson’s Fences, the 1950s chapter in the late playwright’s monumental Century Cycle examining Black American life in each decade of the 20th century, opening in previews this weekend with American Blues Theater at Theater Wit. The play has of course been done frequently in Chicago and elsewhere. And the 2016 film starring Denzel Washington (who also directed) as Troy Maxson, the embittered Pittsburgh sanitation worker and onetime Negro League star, and Viola Davis as his long-suffering wife, Rose, won Oscar nominations for Washington and Davis, with the latter winning best supporting actress for her role. (A bit puzzling, since Rose is far from a supporting role, but that’s how it goes in Tinsel Town.)
Cole has never directed a Wilson play before. “This is kind of crazy and exciting, because I think I see Wilson differently than maybe folks that have traditionally directed Wilson before,” he says. “And that’s the reason why maybe I’ve been a little scared to direct Wilson—because of how his work has been produced and created before. It fits within a certain lineage, a certain tradition, almost like in the spirit of the griot passing an aesthetic down from generation to generation. And this production is sort of breaking that.”
Specifically, Cole says, “I don’t see Wilson as realism at all. I would say the guts of his plays are spirituality. Almost every play that he writes, the thing that’s turning the gears of the play is some sense of spirituality. Whether it’s the City of Bones in Gem of the Ocean, which we just saw at the Goodman, or some sort of ancestral plane. In Fences, it’s in the sense of talking to Death and talking to the devil and the fence [which Troy is building around his house throughout the play] sort of symbolizing the American dream. I’m kind of leading with that. I’m really allowing the play to have these strange moments where talking to Death or Troy being strangled by Death is really prevalent.”
Cole notes that Kamal Angelo Bolden, who plays Troy in the ABT production, is younger than Troy’s 53 years. But he says, “Troy doesn’t die of old age. Troy dies because of a type of spiritual rot that happens over the course of the play. He dies from a type of individualism that the American dream sort of forces you to partake in. And it’s the community that he’s kind of shut down in order to seek his own individualism. And right now, that’s crazy relevant as we’re about to head into a new recession and people in my generation are trying to have their own American dream. What are you willing to sacrifice in order to have that American dream?”
Fences and Black Like Me are far from the only projects on Cole’s docket. He’s also working with playwright Isaac Gómez, whom he met when they were both working at Victory Gardens Theater several years ago, on a digital project for Teatro Vista called La Vuelta.
“Isaac is working with the ensemble individually to kind of talk about, ‘What have you been allowed to play before? What have you been allowed to work on? What have you been allowed to do and what do you want to do? What have you not done?’ And we’ve been trying to find some themes between these things, and we’ve been talking about it as if it’s an anthology web series. And so we are going to film these beautiful moments between the ensemble.”
Cole has also created his own film projects; his short film Sons of Toledo, written with Matt Voss, about a mourning barber giving his slain brother one last haircut, has appeared in film festivals around the world and won Best African American Short at the 2022 Phoenix Film Festival. But even with all the directions in which he’s been moving, there’s something about tackling Wilson that he finds daunting and yet exhilarating—which is why he knew it was time to do it.
“My wife and I are starting to think about having kids ourselves. And so I’m in this middle place of how I’m considering fatherhood and how I’m considering what I need to do in order to make a child’s life successful here in America as a Black man. And with all those things coming together, I’m reading Fences and it’s hitting me harder than it’s ever hit me before. And so I’m like, oh God, I think I have to do this.”
E.M. Davis and Rose Hamill of Broken Nose Theatre Courtesy Spenser Davis
Broken Nose leaders to step down
Earlier this month, Broken Nose Theatre—one of the most lauded storefront ensembles to emerge in the last decade—announced that they were going to embark on a search for a new leadership team. Artistic director E.M. Davis and managing director Rose Hamill will step down from their leadership roles effective September 1.
The two took over their roles from founding artistic director Benjamin Brownson in 2018 and steered the company through the upheavals of the global pandemic (during which they continued to produce digital programming, including the annual Bechdel Fest of work by women playwrights).
According to the press announcement, the company isn’t in a big hurry to name new leadership. Instead, they plan to establish a transition committee comprised of board members, staff, and ensemble members to “reimagine the current structure of the organization in the context of our recent growth” and with the aim of incorporating the company’s “recent assessment and work around racial equity, access, diversity and inclusion.” The future plans also call for expanding the ensemble; BNT plans to be back in 2023 with two full productions. Meantime, they will hold a fundraising gala in August and continue with plans for the ninth edition of Bechdel Fest.
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