Wintrust Business Minute: Chicago Loop retail vacancy rate increased to 30% in 2023
Wintrust Business Lunch
English - March 05, 2024 17:58 - ★★★★★ - 8 ratingsBusiness News Business News wintrust business lunch john williams wgn radio chicago Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Steve Grzanich has the business news of the day with the Wintrust Business Minute. New stats show the retail vacancy rate in Chicago’s Loop increased to 30% in 2023. That’s the fourth year in a row the vacancy rate has gone up, according to a report from Stone Real Estate, a retail brokerage firm that […]
Steve Grzanich has the business news of the day with the Wintrust Business Minute.
New stats show the retail vacancy rate in Chicago’s Loop increased to 30% in 2023. That’s the fourth year in a row the vacancy rate has gone up, according to a report from Stone Real Estate, a retail brokerage firm that tracks Loop vacancies. The figure is up from 28% in 2022 and it’s more than double the pre-pandemic rate of 15%. Analysts say ongoing remote work for office workers is mostly to blame. The latest figures show only about 55% of Chicago workers are back in the office.
Also, the latest job cuts at Rivian included 100 workers laid off in Illinois. Listen for more below:
https://serve.castfire.com/audio/4502316/4502316_2024-03-05-172616.64kmono.mp3
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