For years, Chicagoans have spent their days working in the sky scrapers and mid rises of the Loop, and their nights….elsewhere.
The Loop has long suffered the stigma of being branded as a business center only. Dozens of major corporations, including up-and-coming Chicago-based businesses like Groupon and Grub Hub, have made their homes in the Loop. But relatively few retail centers and apartment complexes have followed suit.
But real estate experts suggest that that may be about to change. Several new retail centers have chosen to set up shop within the limits of the Loop, and most of them seem to be doing quite well for themselves.
Retail giants like Target and Walmart were undoubtedly encouraged to purchase property in the Loop after learning that no less than 72 new leases were signed in the Loop on 2010, and it stands to reason that even more leases will be signed in 2011.
If these housing trends continue, the retail centers building in the Loop are likely to make quite a profit on their investments.