{"id":2268,"date":"2025-01-21T00:00:00","date_gmt":"2025-01-21T00:00:00","guid":{"rendered":"https:\/\/loopchicago.local\/press-releases\/final-quarter-of-2024-shows-strong-marks-in-tourism-and-investment\/"},"modified":"2026-07-16T09:20:20","modified_gmt":"2026-07-16T14:20:20","slug":"final-quarter-of-2024-shows-strong-marks-in-tourism-and-investment","status":"publish","type":"press_release","link":"https:\/\/loopchicago.com\/es\/press-releases\/final-quarter-of-2024-shows-strong-marks-in-tourism-and-investment\/","title":{"rendered":"Final quarter of 2024 shows strong marks in tourism and investment"},"content":{"rendered":"<p><strong>Press contact:<\/strong>\u00a0Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |\u00a0<a href=\"mailto:Ariella@ChicagoLoopAlliance.com\">Ariella@ChicagoLoopAlliance.com<\/a>\u00a0| 708-543-4002<\/p>\n<p><strong>MEDIA:<\/strong>\u00a0<a href=\"https:\/\/www.dropbox.com\/scl\/fo\/9e9y2m34y1g9obnfd0qtt\/AAJ1NkpTytHqXbe_1wvh4Ok?rlkey=zwwaodwtzhdux2277rj76cagb&amp;st=t3ojfffz&amp;dl=0\">View and download photos and videos here.<\/a><\/p>\n<p><strong>SOCIAL:<\/strong><br \/>\nInstagram:\u00a0<a href=\"https:\/\/www.instagram.com\/loopchicago\/?hl=en\">@loopchicago<\/a>\u00a0\u00a0 Facebook:\u00a0<a href=\"https:\/\/www.facebook.com\/ChicagoLoopAlliance\/\">@ChicagoLoopAlliance<\/a>\u00a0\u00a0 Twitter:\u00a0<a href=\"https:\/\/twitter.com\/ChiLoopAlliance\">@ChiLoopAlliance<\/a><br \/>\nLinkedIn:\u00a0<a href=\"https:\/\/www.linkedin.com\/company\/chicagoloopalliance\/\">@Chicago-Loop-Alliance<\/a>\u00a0TikTok:\u00a0<a href=\"https:\/\/www.tiktok.com\/@loopchicago\">@loopchicago<\/a><\/p>\n<p><strong>FOR IMMEDIATE RELEASE | Jan. 21, 2025<\/strong><\/p>\n<p><strong>CHICAGO\u2014 2 MIN READ &#8212; <\/strong>Today, Chicago Loop Alliance (CLA) released its quarter four 2024 State of the Loop report on downtown activity, using a variety of data sources, produced by CLA since July 2020. The report tracks pedestrian and transportation activity, office workers on-site, retail, arts and culture, investment and more. <strong>View the quarter four (Oct.-Dec. 2024) State of the Loop report\u00a0<\/strong><a href=\"\/wp-content\/uploads\/2026\/06\/Q4-2024-Report-Final.pdf\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong>.<\/strong><\/p>\n<p>\u201cThe Loop continued its forward momentum taking advantage of a busy final quarter,\u201d said <strong>Michael Edwards, President and CEO of Chicago Loop Alliance.<\/strong> \u201cStrong arts &amp; culture attendance, robust retail sales, significant investments and large events that foster community bode well for an invigorating 2025.\u201d<\/p>\n<p><strong>Retail<br \/>\n<\/strong>Holiday retail sales nationwide increased <strong>overall by nearly 4 percent <\/strong>from 2023, according to Mastercard Spending Pulse data.<\/p>\n<p>State Street retailers reported heavy customer spending throughout the holiday season. Further evidence of a healthier Loop is the reported lease of GAP Factory Store at 17 N. State Street, and Reckless Records relocating to a larger location on Wabash Street. State Street continued to be a top holiday shopping destination in Chicago, reflected in the <strong>10 percent <\/strong>increase of pedestrian activity over last year.<\/p>\n<p><strong>Pedestrian and Transportation<br \/>\n<\/strong>State Street in the Loop experienced <strong>1.4 million<\/strong> average weekly impressions, reaching <strong>88 percent<\/strong> of 2019 levels, the highest since the pandemic for this quarter.<\/p>\n<p>Average weekly CTA ridership for Q3 reached nearly 71 percent of 2019 levels, experiencing a 10 percent increase since Q3 2023. Metra\u2019s average monthly ridership also increased by 3 percent in the same quarter compared to 2023.<\/p>\n<p><strong>Arts and Culture<br \/>\n<\/strong>Hundreds of thousands of spectators attended various holiday Loop events like the 10<sup>th<\/sup> annual Arts in the Dark Parade, the 33<sup>rd<\/sup> annual Magnificent Mile Lights Festival, and the 111<sup>th<\/sup> annual Tree Lighting Ceremony.<\/p>\n<p>Daley Plaza\u2019s Christkindlmarket boasted a record-breaking <strong>1.4 million visitors<\/strong> between November 22 and December 24, an <strong>8 percent increase<\/strong> from last year, despite a shorter event duration and colder weather.<\/p>\n<p>Loop theatres, along with the Art Institute of Chicago brought <strong>1.3 million attendees<\/strong> to the Loop in Q4, citing a 10 percent decrease from Q4 2023, however, attendance still represents over <strong>$354 million in direct economic impact<\/strong>.<\/p>\n<p><strong>Office<\/strong><br \/>\nWhile the office market continues to face challenges, CannonDesign is renovating its office located in Michigan Plaza.<\/p>\n<p>\u201cWe are enthused to reinvest in Chicago\u2019s Loop,\u201d <strong>said Charles Smith, Principal and Chicago Office Practice Leader, CannonDesign<\/strong>. \u201cRefreshing our 39,000 square feet LEED Platinum office space at 225 N. Michigan reconstitutes our commitment to the Loop well into the future.\u201d<\/p>\n<p>Chicago averaged 50 percent of pre-pandemic office occupancy during Q4, as per Kastle Systems, remaining 2 percent above the 10-city average.<\/p>\n<p><strong>Investment<br \/>\n<\/strong>The Q4 total value of building permits in the Loop was <strong>over $430 million<\/strong>, which is approaching the level of pre-pandemic investment, a good sign of economic recovery. This, paired with the smaller number of permits, indicates that stakeholders are focusing on larger projects.<\/p>\n<p><strong>Methodology<br \/>\n<\/strong>Sources for pedestrian activity provided by Springboard MRI; public transportation provided by Chicago Department of Transportation and Chicago Transit Authority; arts and culture provided by Choose Chicago Cultural Index, Art Institute of Chicago; office occupancy provided by Kastle Systems; retail provided by Mastercard Spending Pulse; building permit data provided by Chicago Cityscapes.<\/p>\n<p><strong>About Chicago Loop Alliance<br \/>\n<\/strong><a href=\"https:\/\/loopchicago.com\/es\/\">Chicago Loop Alliance<\/a>\u00a0(CLA)\u2019s mission is to lead the community by creating and supporting inclusive programs that attract people and investment to the Loop. CLA is a membership organization as well as the sole service provider for Special Service Area#1-2015, and the Chicago Loop Alliance Foundation produces public art projects and events. For more information, please visit\u00a0<a class=\"ss-broken\" href=\"https:\/\/loopchicago.com\/es\/\">LoopChicago.com<\/a>.<\/p>\n<p>###<\/p>","protected":false},"excerpt":{"rendered":"<p>Press contact:\u00a0Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |\u00a0Ariella@ChicagoLoopAlliance.com\u00a0| 708-543-4002 MEDIA:\u00a0View and download photos and videos here. SOCIAL: Instagram:\u00a0@loopchicago\u00a0\u00a0 Facebook:\u00a0@ChicagoLoopAlliance\u00a0\u00a0 Twitter:\u00a0@ChiLoopAlliance LinkedIn:\u00a0@Chicago-Loop-Alliance\u00a0TikTok:\u00a0@loopchicago FOR IMMEDIATE RELEASE | Jan. 21, 2025 CHICAGO\u2014 2 MIN READ &#8212; Today, Chicago Loop Alliance (CLA) released its quarter four 2024 State of the Loop report on downtown &#8230;<\/p>","protected":false},"featured_media":11029,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-2268","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Final quarter of 2024 shows strong marks in tourism and investment - Loop Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/loopchicago.com\/es\/press-releases\/final-quarter-of-2024-shows-strong-marks-in-tourism-and-investment\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Final quarter of 2024 shows strong marks in tourism and investment - Loop Chicago\" \/>\n<meta property=\"og:description\" content=\"Press contact:\u00a0Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |\u00a0Ariella@ChicagoLoopAlliance.com\u00a0| 708-543-4002 MEDIA:\u00a0View and download photos and videos here. 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