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Chicago Ranks High for Walkability, Thanks to Downtown’s Growth
Chicago ranks sixth among the top 30 U.S. metro areas for walkability, according to a report from George Washington University and Cushman & Wakefield. The city earned its high rank based on its percentage of office, retail and rental multifamily space in walkable urban places, or WalkUPs.
“The report’s findings reflect just how much downtown Chicago has grown during this extended period of economic expansion that, as of the end of July, is the longest in U.S. history,” said Vicki Noonan, Chicago managing principal at Cushman & Wakefield. “Companies like McDonald’s, Kraft, Heinz and Motorola Solutions have relocated to the city to tap into the younger workforce that wants to live there.”
Nearly 30% of Chicago’s total office, retail and rental multifamily space is in the metro’s 41 WalkUPs, the report says. Income-producing real estate boasts a 75% per square foot rent premium over space outside these designated areas.
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- ◦Economy
