Good afternoon, and happy Friday! The longer winter goes on, the more relieved I am that most of my new plants have somehow survived. Here’s what you need to know today.

1. Affordability — or the lack of it — will define Chicago’s housing market this year, experts say

Housing experts and economists predict 2026 will be a stronger year for the U.S. housing market. Economists from the National Association of Realtors expect affordability to improve, along with home value appreciation. Zillow forecasts a 4.3% increase in home sales, along with modest price growth in many parts of the U.S.

But Chicago will likely tell a different story, my colleague Abby Miller reports. Though home sales remain strong, a dwindling number of listings combined with steady demand means more competition among buyers, which could motivate sellers to raise prices.

The median sale price for a Chicago home rose more than 5% last year to $375,000, according to Illinois Realtors. Over the past seven years, median home prices spiked to new highs during the peak homebuying season around June. Between 2019 and 2026, the peak median home price rose from $265,000 to $385,000 — a 45% jump.

“In Illinois, the issue is very acute in the sense that our housing economy hasn’t recovered in the same manner that other states have,” Illinois Realtors CEO Jeff Baker said. “Housing stability, housing affordability, the trickle down affects every other element of our state from economic development to school funding, public safety. It touches everything.” [Chicago Sun-Times]

2. A new state initiative aims for e-bike regulation and safety education

Illinois Secretary of State Alexi Giannoulias is pushing legislation to regulate electric bikes and, for the first time, rein in the more dangerous “e-motos” that go upward of 50 mph.

“Ride Safe, Ride Smart, Ride Ready” aims to address Illinois’ archaic bike laws, which currently don’t address some of the fastest electric two-wheelers, my colleague David Struett reports for the Chicago Sun-Times.

Illinois currently classifies e-bikes into three categories: Class 1 e-bikes have pedal-assisted power with a top speed of 20 mph. Class 2 e-bikes can be propelled by their motor only but top out at 20 mph. Class 3 e-bikes are pedal-assisted and top out at 28 mph.

The new bill maintains this framework, focusing instead on higher-powered vehicles — including electric bikes, e-motos, unicycles, scooters and skateboards — that fall outside of the current rules. [Chicago Sun-Times]

3. Some Chicago small businesses closed today as part of a national general strike

Owners of The Brewed Coffee shop in Avondale told the Chicago Sun-Times they began considering observing the nationwide shutdown after the fatal shooting of Alex Pretti in Minneapolis and Immigration and Customs Enforcement’s continued presence in cities across the country.

Other small businesses across Chicago that announced their closure include Pie Pie My Darling, Katherine Ann Confections, Bueno Days, Casa Cactus and Restoried Bookshop.

Some businesses said that while they could not close their doors, they would make donations to immigrant rights organizations as a show of support.

In a statement on Instagram, Justin Lerias, owner of Del Sur Bakery in Lincoln Square, said, “Staying open allows us to support our staff and community,” but pledged to give 100% of the bakery’s profits to the Illinois Commission for Immigrant and Refugee Rights. [Chicago Sun-Times]

4. The CTU wants to bargain with CPS over remote learning options

The Chicago Teachers Union wants to bring Chicago Public Schools to the bargaining table over working conditions — including offering remote learning options — ahead of a possible resurgence of widespread federal enforcement in the city later this year.

Union leaders say this is necessary to protect families and ensure students can stay home if they’re afraid of being targeted by federal officials while traveling to or from school.

As my colleague Emmanuel Camarillo writes, the move indicates how disruptive federal immigration operations have been to schools in Chicago and elsewhere. In October, federal agents released tear gas near Funston Elementary in Logan Square when some students were outside for recess. There were big drops in attendance at primarily Latino schools on days enforcement was most aggressive. [Chicago Sun-Times]

5. Community members say Chicago History Museum cuts could impact scholarship of the city’s history

They called for the museum’s new leadership to repair relationships with workers and mend fences with Chicago scholars after CEO Donald Lassere left this month, Erica Thompson reports for the Chicago Sun-Times.

Hours at the Abakanowicz Research Center were limited after a decision to reduce staffers to part-time status in July. Advocates say reversing that decision will help strengthen the museum’s identity as a prestigious institution that informs visitors from all over the world about the history of Chicago and America.

Leadership has remained tight-lipped about next steps.

“As you can imagine, it is a busy time and there is much to do in this period of transition and stabilization for the museum,” Interim President and CEO Michael Anderson said in an email to the Sun-Times. “In the coming weeks and months there will be much more to say about the future of the museum.” [Chicago Sun-Times]

Here’s what else is happening

  • Former CNN anchor Don Lemon and an independent Minnesota journalist were among four people charged by federal agents over a church protest. [NPR]
  • Trump plans to nominate former central banker Kevin Warsh to be the next chair of the Federal Reserve, in hopes Warsh will follow his roadmap toward much lower interest rates. [NPR]
  • Actress Catherine O’Hara, of “Home Alone” and “Schitt’s Creek” fame, died at 71. [New York Times]
  • Here’s what to expect during the Grammy Awards on Sunday. [AP]

Oh, and one more thing …

Teatro ZinZanni, the dinner theater with a cirque flair, will shutter its current show after tomorrow’s performance because of a decline in ticket sales that its founder says stemmed from COVID-19 and was made worse by immigration enforcement efforts Downtown.

Founder Norm Langill attributes the “hangover” from COVID to the trend of audiences staying inside and turning to streaming platforms for entertainment. “They stay in with Netflix and order from DoorDash,” he said.

While the show is coming to an end, the company is not quitting its lease on the space. Langill plans to reopen the main show for the holiday season, and he’s currently working to find partners to potentially utilize the space in the near future. [WBEZ]

Tell me something good …

Which Chicago-area productions are you looking forward to this season?

Rowie writes:

“I am looking forward to the May opening of ‘Scaramouche: A Swashbuckling Musical’ at the City Lit Theater Company. A little light fare at the theater will be a great break from the daily news.”

Tom writes:

“Looking forward to ‘Leopoldstadt’ at Writers’ Theatre in the spring. There’s never enough Stoppard.”

Thanks for all the responses! A lot of these weren’t on my radar, so I appreciate the recommendations.