CHICAGO, IL (WBBM Newsradio) - The ‘State of The Loop’ report, compiled and released quarterly by business group Chicago Loop Alliance, tracks pedestrian and transportation activity, investment, retail, arts and culture, and more.
July through September, the latest report shows that more people are making it to the Loop using public transportation. Metra ridership increased 12% compared to last year, with 3.6 million passenger trips in July. The CTA provided over 3 million rail rides during the week of Lollapalooza alone, their highest week since 2019.
The top reason for people coming downtown is arts and culture and Goodman Theatre executive director John Collins tells us that they’re on par for record attendance for their centennial season. “Our numbers are well above where they were pre-pandemic, and they continue to grow”, said Collins.
Goodman Theatre, an anchor to Chicago’s Theatre District, Goodman and now 100 years old, is more than happy to play a part in overall theatre attendance in Q3 of nearly 400,000 with direct economic impact of more than $100 million. “I think Chicago has always understood, an investment in culture, drives business in Chicago”, Collins said.
Other cultural events and institutions saw just shy of 1.5 million visitors. Foot traffic, office occupancy growth ( 57%, the highest outside of Texas), and residential development, according to Chicago Loop Alliance CEO Michael Edwards, are major green lights for investors.
2025 started out with a downtown storefront vacancy of 29%, an improvement over the previous year, and since then, 30 new dining or retail establishments have opened or are set to open this year in the Loop.
Gap Factory opened on State Street in July, Rainbow Cone opened early October on Michigan Avenue, partnering with Cinnabon and Auntie Annies to take up 2 spaces.
Manager Amin tells us it’s a good place to be. “The amount of foot traffic that you find on Michigan Avenue, all times of the year, whether it’s snowing, sunny, raining it doesn’t matter, you’ll find people. So the foot traffic is there.”, said Amin.
Arts and Culture
Late summer in the Loop was filled with events, which collectively created over $514 million in direct economic impact, surpassing 2024’s Q4 impact. In July and August, Grant Park Music Festival welcomed 142,391 attendees, while Lollapalooza attracted 400,000 music fans to the park.
The Chicago Triathlon followed, with more than 8,000 participants competing over two days, solidifying the event as one of the largest triathlons in the world.
In September, DCASE festivals and Sundays on State drew nearly one million collective visitors to the Loop.
Residential Development
New residential development and progressive parking policy led the Loop further into its evolving role as a complete urban district.
Adaptive reuse conversions continued as a part of the LaSalle Reimagined plan. Using money from the LaSalle Central TIF district, new plans have moved forward for 105 W. Adams and 30 N. LaSalle to be converted into residential units. Outside of LaSalle Reimagined, developers plan to convert the remaining office space in the historic Pittsfield Building into new residential units.
In August, the Chicago City Council unanimously approved an ordinance removing parking minimums for new apartments near transit lines. The change encourages developers to build without parking in areas like the Loop, reducing reliance on cars and incentivizing public transit use. By encouraging higher-density, transit-oriented development, the ordinance also aims to boost ridership at a time when the CTA faces a looming fiscal cliff.