The Loop is Making a Comeback

While COVID destroyed downtown markets across the globe due to the work-from-home trend and lockdowns, Chicago’s downtown appears to be improving faster than other downtown markets in America. The population in the Loop actually grew during the pandemic, maintaining its status as one of the fastest growing neighborhoods in Chicago.

It’s hard to believe given that the financial district is barely starting to show signs of pre-pandemic energy, but the downtown market is in considerably better shape than places like San Francisco, which was home to nearly 70% of the city’s jobs and tax base.

While the census showed that the population has declined over the past 10 years, the majority of the net outflow is low income earners. Regardless of your opinion on that, the good news is that improvements in areas like Fulton Market and Logan Square are a direct result of higher income earners moving the city. Chicago’s winters, taxes, and crime might suck, but hey it’s fairly cheap to live compared to New York or California, which is drawing many white collar professionals.