Chicago 2016 Closing Shop

Much like those Y2K survival kits from 10 years ago, the Chicago 2016 group is now just an awkward reminder of a failed idea. And so, along with all the banners and advertisements, it's time to strip it down for parts.

In operation for the past 3 years, Chicago 2016 has 57 paid staffers, most of which be laid off by the end of the month.

Since July 2006, the group raised $72.8 million, all from private donations. About $48 million was spent in pursuit of the Olympic bid, and $13 million was donated to World Sports Chicago, a non-profit organization promoting involvement in Olympic and Paralympic sports to local youth.

Any money that has not been spent will also go to the youth group.

Expect to see that giant Michigan Avenue banner over the River at a rummage sale soon.

Matt Bartosik, a "between blogs" blogger, is wondering what to do with all these Olympic t-shirts.

Copyright NBC Owned Television Stations / NBC Chicago

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