New Economic Report Showcases Downtown Chicago Loop
Chicago Loop Alliance
The Chicago Loop Alliance (CLA) recently completed the first-ever comprehensive economic analysis of Chicago's downtown Loop district, combining the most recent findings and statistics about the area into one all-inclusive report. The information provides a snapshot of the economic activity in the Loop across the following segments: entertainment; higher education; hotel, convention and tourism; housing/residential real estate market; pedestrian traffic; office/commercial real estate market; transportation; and retail. Findings are available at www.chicagoloopalliance.com where information can be accessed through interactive maps, graphs and other useful tools. Members of the Chicago Loop Alliance will be able to access more detailed information from the report through password-protected technology.
"This study will be an invaluable tool that will demonstrate the diversity, vibrancy and centrality of the area, attract new businesses to the Loop and assist those that are already in the area with planning and strategy," said Ty Tabing, executive director, CLA. "All types of individual business owners and developers can use it to evaluate the myriad opportunities the district offers."
Sample findings include:
-The Loop is one of the fastest growing neighborhoods in Chicago
-Visitors to Chicago compose the largest segment of consumers spending retail dollars in the Loop.
-The Chicago Loop constitutes the largest college campus in the United States with 20 higher education institutions and 53,859 students.
-The Loop area attracts almost one million visitors each workday.
-Millennium Park attracted nearly three million visitors in 2005
"We plan to update the data presented in the report to the Website as it becomes available in order to draw comparisons and track change in the Loop through the years," said Tabing.
The Chicago Loop area is defined as extending from Dearborn to Lake Michigan, Congress to the Chicago River, and south along Michigan Avenue from Congress to Roosevelt.
The report can be accessed by visiting www.chicagoloopalliance.com. For more information call 312.782.9160 or visit the Web site.
Related Link: Chicago Loop Alliance Economic Report
For more information contact:
Chicago Loop Alliance
27 E. Monroe, Suite 900
Posted November 1, 2006
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