CHICAGO (WBBM NEWSRADIO) -- The number of empty storefronts in the Loop just keeps growing.
An analysis from the Chicago retail brokerage Stone Real Estate indicates that the Loop retail vacancy rate increased for the fourth year in a row in 2023, rising to just past 30%. It was 28.32% in 2022.
Michael Moore, a lawyer who works downtown told WBBM he has noticed it and said there's "less foot traffic."
However, he said he hasn't been impacted personally by the store closings that much. "I go to the same places that I always went to, so they're still open except for the Walgreens in the State of Illinois building."
The State of Illinois building and the Thompson Center is being taken over by Google, which has plans for retail shops and restaurants, so there is hope for a rebound at least in that spot.
Anna, who also works downtown, said the Loop got a boost last summer when State Street was blocked off on some days, and hopes this summer will bring a similar rebound.
"I've had friends who've lost their job, because of all the store closings. Maybe in the summer, it will get better again...pop up stores? Who knows?"
Geraldine Liggin was walking down State Street and said she longs for State Street's good old days of when Marshall Field's was in downtown.
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