Posted 53 days ago in Trending, Investments in the Loop, Loop economy
2 MIN READ — JPMorgan Chase is investing big in their 55-year-old Chase Tower building, located in the Loop on 10 S. Dearborn, with a massive renovation that is to take place over the next couple of years.
Reporter Mark Weinraub highlights the importance of JPMorgan Chase's recently announced renovation of Chase Tower in the following excerpt from Crain's Chicago Business:
"By staying put at 10 S. Dearborn St., JPMorgan Chase is providing an important victory for the heart of the Loop, which is desperate to reclaim daily foot traffic and vibrancy as effects of the pandemic fade. Combined with Google's pending transformation of the James R. Thompson Center two blocks north, the Chase Tower project stands to help put the vacancy-ridden Loop in a better light for other prospective office tenants and investors and reaffirm its status as the gravitational center of downtown business."
Crain's goes on to cite that the renovation projects to create more than 970 local construction jobs, resulting in $264 million for Cook County and $377 million for Illinois overall, during the buildout phase.
