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Chicago & Midwest  + Downtown  + Retail  | 

Arts in the Loop Drive $2.25B in Revenues

Arts and culture in the Loop drive $2.25 billion to the area and Chicago each year, according to a study commissioned by Chicago Loop Alliance. Among other benefits, arts generate $113.5 million in Loop restaurant revenue, $81.3 million in real estate revenue, $78 million in Loop hotel revenue and $63 million in Loop retail sales.

“We’ve been able to show with hard numbers that arts and culture play a huge role in the economy, and based on thousands of heartfelt survey responses, they also represent the soul of the city of Chicago to both residents and visitors alike,” said Michael Edwards, president and CEO of the alliance. “We believe the information in the study will be used by arts, tourism and economic development organizations to strengthen their operations, which will ultimately strengthen the Loop as a whole.”

The study was conducted by HR&A Advisors Inc., and ArtsMarket Inc.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy