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Relocations from the Suburbs Drive CBD Job Growth
Employment in the Loop has grown 23.5% from a post-recession trough of 274,956, a faster growth rate than that of either the city or the metro area, the Chicago Loop Alliance reported. Much of this stems from corporate relocations from the suburbs.
“Firms are trying to capture younger professionals, many of whom live in the City and prefer an amenities-rich urban location in both their personal and work lives,” according to the alliance’s report, an update of a 2013 study.
Citing MB Real Estate figures, the alliance reports that 46 companies moved their headquarters or a division of their operations from the suburbs to the CBD between 2013 and 2018. Of that total, 19 companies moved 863,000 square feet to the Loop itself.
The largest of these relocations include Wilson Sporting Goods, KraftHeinz, and Nielsen Holdings, which moved into 215,000 square feet at 200 West Jackson in 2017.
Pictured: 200 West Jackson
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- ◦Economy
- ◦Lease
