Quote:
Originally Posted by FightOn!
Fantastic news! We just moved from NYC to the Loop late last year and can see the potential this area can become. After March, the area has been booming with people and every weekend has become busier and busier.
This news just made us feel better about buying a condo down here as we see it undervalued compared to major cities we've lived in.
Maybe even apply to Google in the future...
|
Hey fellow NYC transplant (but I used to live in Chicago for many years previous).
Activity downtown definitely picked up after March and especially after April. It's weird when people call it a ghost town now - I'm pretty sure they don't come downtown and are just guessing and applying what they knew what it was like 6+ months ago instead.
Chicago is always undervalued. It makes no sense except for 50-75% false crime stereotypes and the weather stereotypes. The Loop before the pandemic definitely had less retail vacancy and even more people. But there's 600K+ jobs technically in the area and there's still a lot of people coming into their offices now even if it's not a super high percentage.
What's always bothered me about the area though is the residential component. They've definitely added more in the eastern portion vs. when I originally moved to Chicago but they could do so much more. It does have the potential to be like some of the more populated parts of Midtown IMO. Not that Midtown is my favorite part of NYC (far from it) but there's still some sections with some nice after office hours activity and some good local restaurants.