Chicago Loop is Fastest Growing Downtown in U.S.
The Chicago Loop is the fastest growing downtown in the U.S. and fastest growing neighborhood in Chicago, the Chicago Loop Alliance reported in a new study. The Loop’s population continued to grow through the pandemic and now numbers 46,000, or nearly 4,000 more than pre-pandemic.
The average Loop household spent more than $18,000 at businesses in the Loop in 2022, or approximately $481 million. A retail gap analysis indicates an additional $940 million in spending potential from Loop residents.
“The Loop continues to be the city’s fastest growing neighborhood, and the fastest growing residential downtown in the country, yet the Loop remains in need of amenities to attract and retain residents,” said Michael Edwards, president and CEO of Chicago Loop Alliance. “We hope the evidence and narrative of this study provides context for how we can all work together to make Chicago’s Loop more beneficial for workers, tourists, and residents.”