Changes could be in store for downtown Chicago as it works to regain some of the bustle it lost during the COVID-19 pandemic.
Traffic moves past the Neiman Marcus department store in the 700 block of North Michigan Avenue on Dec. 8, 2021, in Chicago.of workers and tourists, changes could be in store for downtown Chicago as it works to regain some of the bustleEmpty offices and closed storefronts have put the vibrancy of downtown Chicago at stake. Almost 18% of downtown office space was vacant at the end of 2021, according to commercial real estate firm CBRE.
Getting there will require bringing people downtown. There were upticks in pedestrian traffic before the omicron wave, but with fewer office workers around and amid rising worries about crime, employers, store owners and landlords are eyeing creative options.Real estate experts and landlords aren’t worried about companies deserting the urban core, but as the need for office space changes,the outlook for downtown.
A shift toward housing had started before the pandemic. The share of space in Chicago’s central business district devoted to offices shrank from 79% in 2011 to just under 75% earlier in 2021, while multifamily housing grew from 9% to 16%, according to CoStar data. There were 208 more empty storefronts in the Loop in mid-2021 than in 2019, a Stone Real Estate report found. Restaurants accounted for 44% of the newly empty space, and apparel stores made up 16%.
“Even when Willis is 20% occupied, it still has more people than most buildings in Chicago, and there’s a weekend crowd,” he said. In the first three weeks of the year, 600 complaints of crimes including burglaries, motor vehicle thefts and violent crimes were reported in the police districts that include downtown and other surrounding neighborhoods, according to preliminary Chicago police data. That was up from 412 in the first weeks of 2020.The Loop Alliance has long had safety patrols on State Street during the day and in recent months hired unarmed security to walk the area after 11 p.m.
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