Deadbeat Chicago developer owes another $1 million in back rent to the CTA, records show

Chicago developer Scott Goodman, who leased office space in the West Loop for years from the Chicago Transit Authority, is once again deep in debt to the agency, according to recently obtained CTA records.

The documents show one of his businesses is more than $1 million behind on rent payments — and the transit agency contends he owes another $11 million or so in late fees because he was chronically late with his payments.

While Goodman was accused of owing taxpayers, other records show he remained politically active, making a $1,032 campaign contribution just this month to Cook County Board President Toni Preckwinkle as she’s locked in a tight Democratic primary race against Ald. Brendan Reilly (42nd).

The CTA debt accumulated in 2025, during which time Goodman made other campaign contributions, including:

• $1,500 to a fund benefiting Ald. Gilbert Villegas (36th);
• $1,000 to a fund for Ald. Jason Ervin (28th).

Goodman’s main company, Farpoint Development LLC, was based at the CTA building at 120 N. Racine St. under a multi-year lease that expired last August. That building houses the CTA’s control center, the agency’s operations nerve center, which didn’t need all the space.

At some point — apparently in 2025 — Farpoint moved to 1308 N. Elston Ave., one of the Farpoint properties Goodman once leased to the city to house migrants.

It’s unclear whether Goodman was forced out of the CTA space or chose to leave when the lease expired.

“Options to extend the lease were not exercised,” CTA spokeswoman Catherine Hosinski wrote in an email. “CTA is unable to provide any other comment pending litigation.”

A Goodman spokesman said he — through his firm Randolph Racine LLC — and the CTA are “now in advanced discussions and we are confident we will reach an amicable solution to resolve all outstanding issues.”

The company has contended the CTA owed it money, but Goodman wouldn’t answer questions on that claim.

The current financial issues follow other money problems the Chicago Sun-Times detailed in 2024, at which time Goodman’s Sterling-Racine LLC, his company initially on the lease, was said to owe $25 million in fines for late fees — and another $1 million in property taxes.

While still in arrears two years ago, Goodman’s business was making money by subleasing part of its space at the CTA building to organizers of the Democratic National Convention, held in 2024 at the United Center, about a mile west of the building.

Convention organizers said at the time they weren’t aware that the CTA had been hounding Goodman to pay the rent.

Goodman’s company is among the investors who have been attempting to redevelop the former home of Michael Reese Hospital, a 48.6-acre site near McCormick Place.

Goodman’s team has lobbied the Chicago Bears, hoping the football team would build a stadium on the property. But the Bears have determined that the site isn’t sufficient for the stadium as the team sets its sights on a former Arlington Heights racetrack as well as a site in northwest Indiana, just east of Wolf Lake.

Goodman’s Farpoint is also part of the team redeveloping a long-vacant building at 830 N. Michigan Ave. for J.P. Morgan Chase, which plans to open a financial investment center to serve wealthy clients.