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The festival will be exiting Douglass Park after a 10-year run that has been plagued by controversy in recent years.
The Chicago Transit Authority recorded an average of 1 million weekday riders in May, the first time since the COVID-19 pandemic decimated ridership.
Patchin will succeed Jim Garrett, who will retire after serving as president and CEO of the bureau since 1996.
"I think that one’s still to be determined, to be perfectly frank with you,” Mayor Brandon Johnson told the Sun-Times Editorial Board Monday, referring to Bally's plan for a $1.7 billion permanent casino along the Chicago River.