The Loop is bouncing back stronger than ever

The Loop is making a remarkable comeback following the pandemic. According to a study conducted by the Chicago Loop Alliance, the Loop is now the fastest-growing downtown neighborhood in the United States.

During the pandemic, parts of downtown Chicago felt like a ghost town, as people stayed home and businesses closed their doors. With the challenges posed by the quarantine firmly in the rearview, downtown is making a serious comeback. As people begin to feel more comfortable venturing into public spaces, businesses and cultural institutions are once again drawing crowds and contributing to the vibrant energy of the Loop.

The Loop's population is steadily growing

The estimated population of the Loop is up by more than 4,000 residents from the 2020 census. Studies also indicate the Loop's population is getting younger, with almost half of the residents between the ages of 20-34.

New Loop residents have a significant economic impact on the downtown economy. The average Loop household spends $18,000 annually. Loop residents have an annual economic impact of $481 million on downtown businesses as they buy goods and use local services.

The future of the Loop looks promising, as it is poised to attract a variety of new types of residential units, retail and commercial development, and cultural attractions. With workers returning and new residents moving back downtown, the Loop will continue to be a hub of commerce, culture, and community for years to come.