Loop retail vacancies at lowest levels in 12 years
Retail vacancies in the Loop declined to a 12-year low in 2013, according to a report released by Stone Real Estate Corporation and first reported by Crain's Chicago Business.
Rates dropped to 10.8 percent in 2013 from 11.9 percent in 2012, signaling continued growth in the Central Loop market. Those numbers are bolstered by new apartment and hotel development projects, as well as the addition of attractions such as Millennium Park and Skydeck Chicago. This trend was also highlighted in Chicago Loop Alliance's 2013 State of the Loop: An Economic Profile, which provides data about how downtown investment, businesses, employees and residents contribute to Chicago’s economic output.
For more information on these latest numbers, visit Crain's Chicago Business.
(Photo: James John Jetel for Chicago Loop Alliance)