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The funnyman had three months left on his contract with Emmis Communications' WLUP-FM, 97.9, but negotiations on a new contract broke down last week.
Monday's show was hosted by Pete McMurray and Brandmeier's likeness has already been purged from the station's Web site.
Revenue streams at almost every station in the Chicago market have tumbled dramatically over the past year, forcing radio station general managers to take drastic and quick action to reduce overhead -- often by cutting talent with the fattest paychecks, the Chicago Sun-Times' Lewis Lazare points out.
His seven-figure salary was a bet that economic conditions squeezing the radio business at the time might ease up.
His exit is another big shift in the Chicago radio market. Earlier this year, WBBM-FM "B96" dumped Eddie and Jobo after nearly 20 years at the station. WGN-AM unexpectedly canceled the popular "Kathy and Judy" show in May, the same day that WNUA-FM dumped jazz for a Spanish hot adult contempory format.
As for Brandmeier, sources tell columnist Robert Feder that he could be in talks with WGN-AM or WLS-AM.