With fewer office workers and some major retailers closed, what’s next for downtown Chicago?
Long associated with gleaming office buildings, retail and throngs of workers and tourists, changes could be in store for downtown Chicago as it works to regain some of the bustle it lost during the COVID-19 pandemic.
Empty offices and closed storefronts have put the vibrancy of downtown Chicago at stake. Almost 18% of downtown office space was vacant at the end of 2021, according to commercial real estate firm CBRE. The closure of major retailers along the Magnificent Mile, such as Macy’s and Gap, left massive holes in the city’s best-known shopping district.
Office use and shopping habits were changing long before the pandemic, but were exacerbated by COVID-19 shutdowns. As the city tries to emerge from the pandemic, downtown faces myriad challenges: a changing office landscape in the Loop, a decline in retail activity along the Magnificent Mile, concerns about crime.
Meeting those challenges could mean changes that reshape the face of downtown, according to real estate experts, researchers and neighborhood groups. Old office buildings could be converted into housing. Michigan Avenue is looking beyond retail to more experiential options. Local businesses might have more chances to expand downtown.
In one sign of that change, Hubbard Street Dance Chicago recently moved into an old
