CHICAGO (WBBM NEWSRADIO) -- A downtown business organization said it’s seeing a steady increase in activity in the Loop with even better days to come over the summer.
Make no mistake, activity downtown is nowhere near normal; but it’s moving in that direction, according to the Chicago Loop Alliance.
According to the organization's April report, parking volumes have reached 87 percent of a normal year, which is the closest to normal this metric has come since the start of the pandemic.
Hotel occupancy saw its greatest month-over-month increase between February and March, hitting around 36 percent of normal levels; while CTA ridership is trending upward, hitting about 40 percent of normal levels.
Conversely, pedestrian activity took a slight dip compared to March, but it could be because of chillier weather. But, Chicago Loop Alliance found, in April, outdoor activities like dining on a patio or visiting a park were more popular than indoor dining and visiting an indoor attraction. Shopping was the most popular in-person activity, indicating that retail in the Loop remains a strong draw.
Large gains are expected this summer, the Chicago Loop Alliance said as BMO Harris, JPMorgan Chase, and Citadel have announced that, combined, they’ll bring 10,000 workers back downtown in June and July.
Additionally, employers are feeling far more confident in a return to the office. Only 56 percent of survey respondents indicated “unsure” or “other” when asked when their full staff would return to the Loop for work (69 percent in March and 80 percent in February); 7 percent said all staff would return in Q2; and, 21 percent said Q3 or later. According to the survey, 17 percent said all staff returned in Q1.
“We are encouraged to see data that illustrates the Loop’s steady recovery, and we expect it will only get better from here,” said Chicago Loop Alliance President and CEO Michael Edwards. “We’re seeing more headlines announcing large companies’ plans to return to the office, and we know anecdotally that these stories are playing out at smaller businesses, too. In fact, Chicago Loop Alliance will invite all staff back to the office full-time beginning June 1. We know that the culture around work will shift to support flexibility and safety, as the COVID-19 pandemic is not yet over, but we anticipate a bustling Loop this summer. We can’t wait.”
For workers who will soon return downtown, Chicago Loop Alliance has created a Back to Work Toolkit that can be found at LoopChicago.com/BackToWork. The toolkit includes insider tips for working downtown in the Loop; as well as information on how to safely get downtown; what’s new in the Loop; what the Loop looks like these days; lunch and happy hour spots; and more.
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