Visitors and workers alike drove record activity in the Chicago Loop during the second quarter of 2023, according to a State of the Loop report released by The Chicago Loop Alliance. The report tracked pedestrian activity, hotel occupancy rates, office worker on-site numbers and more through a variety of data sources.
Major events like Taylor Swift at Soldier Field, the James Beard Awards, Nascar Street Race and ASCO Conference drew hundreds of thousands over June’s first weekend – resulting in an all-time high hotel occupancy rate for that period. Citywide hotel occupancy for week ending May 29 increased 65 percent from 2020 levels while Metra provided 2.9 million passenger trips during Q1 2023 with CTA providing nearly 62 million passenger trips over that same period.
Chicago office occupancy remains above major U.S cities’ average for Q2 trailing only Austin, Houston and Dallas respectively while residential development continues with 1000M – a 73 story building – opening its doors recently; collectively loop households’ spending capacity exceeds $940 million annually .
