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Fischer Black and Myron Scholes give a closed-form price for a European option in the Journal of Political Economy, in the same year the Chicago Board Options Exchange opens. The formula becomes the language of the derivatives market.

Caterpillar unveiled its 797 — at the time the world's largest and most powerful haul truck — at its Decatur, Illinois assembly plant on 29 September 1998.

Grant Achatz's "maximalist modernist" restaurant opened on a Lincoln Park side street and went on to hold three Michelin stars from 2011 to 2024. It is named after the alinea, the paragraph symbol that is also its logo.

The US General Services Administration reversed course on a $52M congressional earmark to demolish two historic Chicago Loop skyscrapers, opting to reuse them instead after a sustained preservation campaign.

The Lawrence, Argyle, Berwyn and Bryn Mawr stations reopened fully accessible, with elevators and escalators at main entrances, wider platforms, translucent overhead canopies and new public artwork. They sit on 1.3 miles of new track structure, bridges and viaducts built between Lawrence and Bryn Mawr under the CTA's $2.1 billion Red and Purple Modernization Phase One project.

David and Anna Posey open a French bistro with a Chicago accent on West Randolph Street, run day to day by chef de cuisine Tayler Ploshehanski.

Abbott agreed to buy Cologuard maker Exact Sciences for $105 a share in cash, a total equity value of about $21 billion, to enter cancer screening and precision oncology diagnostics.

Abbott began a medical device correction for about 3 million FreeStyle Libre 3 and Libre 3 Plus sensors in the U.S. after internal testing found some give incorrect low glucose readings, an issue it linked to 736 severe adverse events and seven deaths worldwide. The FDA later made it a Class I recall.

The FDA approved Abbott's Volt pulsed field ablation system, a balloon-in-basket catheter that maps, paces and ablates, to treat paroxysmal and persistent atrial fibrillation. The approval rested on the 392-patient VOLT-AF IDE study at 40 centers.

Jimmy Bannos Jr. and chef-partner Kevin Stack open a large, lively Greek restaurant in the Chicago suburb of Niles, with a wood-fire grill.

Abbott closed its $105-a-share cash purchase of Cologuard maker Exact Sciences, which became a wholly owned Abbott subsidiary; Exact Sciences shares last traded on Nasdaq on 20 March.

The Chicago Transit Authority started building the $5.7 billion, 5.5-mile extension of the Red Line south from 95th/Dan Ryan, with a ceremony at the site of the future Michigan Avenue station. Four new accessible stations near 103rd Street, 111th Street, Michigan Avenue and 130th Street will bring rapid transit to the Far South Side for the first time.

The Obama Foundation's 19.3-acre campus in Jackson Park, built around a 225-foot museum tower, took its first visitors on Juneteenth, the day after a dedication ceremony at John Lewis Plaza. At roughly $850 million it is the most expensive presidential library yet built; ground was broken in September 2021 after years of lawsuits over the Jackson Park site.

Abbott posted second-quarter sales of $12.59 billion, up 13.0% reported and 4.8% comparable, and adjusted EPS of $1.31, and raised its 2026 adjusted EPS guidance to $5.45 to $5.60.

Abbott and Google Health launched a multi-year partnership to bring glucose data from Abbott's over-the-counter Lingo sensor into the Google Health app, where Google's AI Health Coach will use it for personalized advice. The deal includes one of the largest real-world metabolic health studies.

Abbott agreed with three law firms to pay about $670 million to settle the Gill case, a $495 million St. Louis jury award, and NEC claims for about 2,000 other preterm infants fed its specialty formulas. About 1,700 lawsuits covering some 12,700 infants remain.

Abbott's next-generation Amulet 360 left atrial appendage occluder received CE Mark to cut stroke risk in non-valvular atrial fibrillation, with the first European implants done in Frankfurt, Lubeck and Aarhus.

The FDA approved Abbott's TactiFlex Duo, a catheter that can deliver pulsed field ablation, radiofrequency energy or both in one procedure to treat complex atrial fibrillation. The approval rested on the FlexPulse IDE study.

Abbott is expected to report third-quarter 2026 results before the market opens and webcast its earnings call at 8 a.m. Central, most likely on Wednesday 21 October; it has guided to adjusted EPS of $1.38 to $1.46.

The $815 million AbbVie Foundation Cancer Pavilion, a seven-storey 575,000-square-foot building north of 57th Street in Hyde Park, is Illinois' first freestanding cancer centre, with 80 inpatient beds, 90 outpatient exam rooms and dedicated imaging, infusion and clinical trial space. It pulls together cancer services currently spread across at least five buildings on the campus.

Related Midwest's 72-story North Tower, built inside the abandoned Chicago Spire foundation pit, is slated to open along the city's lakefront in 2027.

The first of two satellite concourses west of O'Hare's terminal core, designed by Skidmore, Owings & Merrill with Norviska and designated Concourse D, is reached by an underground tunnel from the terminals. Vertical construction started in April 2026; the $1.45 billion concourse is the first piece of the O'Hare 21 rebuild to be delivered, a programme approved in 2018 at $8.5 billion and now put at roughly $12 billion in current dollars.

The next phase of Chicago's giant Deep Tunnel flood-control reservoir has slipped three years behind its original federal deadline because of a local stone shortage.

Chicago's O'Hare 21 terminal overhaul, including a new Global Terminal, has pushed its completion years past its original target as costs climbed.