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Wintrust Business Minute: Chicago Loop retail vacancy held steady in 2024
Steve Grzanich has the business news of the day with the Wintrust Business Minute.
There’s some good news about the retail vacancy rate in Chicago’s Loop. Crain’s reports the rate held steady in 2024 at just under 30%. The vacancy rate is compiled by Stone Real Estate, a local retail brokerage firm. The Loop retail vacancy rate was 29.8% in 2024, down from 30.1% in 2023. Since March 2020, retailers have vacated 222 storefronts in the Loop district. Of the 1,307 storefronts, 449 are empty. The report says that adds up to about 1.3 million square feet of vacant space.
Also, Northbrook-based Allstate says it expects $1.1 billion in losses from the California wildfires around Los Angeles. Listen for more below:
https://serve.castfire.com/audio/7265151/7265151_2025-02-06-220851.64kmono.mp3
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By wgnradio.com
4.5
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Steve Grzanich has the business news of the day with the Wintrust Business Minute.
There’s some good news about the retail vacancy rate in Chicago’s Loop. Crain’s reports the rate held steady in 2024 at just under 30%. The vacancy rate is compiled by Stone Real Estate, a local retail brokerage firm. The Loop retail vacancy rate was 29.8% in 2024, down from 30.1% in 2023. Since March 2020, retailers have vacated 222 storefronts in the Loop district. Of the 1,307 storefronts, 449 are empty. The report says that adds up to about 1.3 million square feet of vacant space.
Also, Northbrook-based Allstate says it expects $1.1 billion in losses from the California wildfires around Los Angeles. Listen for more below:
https://serve.castfire.com/audio/7265151/7265151_2025-02-06-220851.64kmono.mp3
Recent Posts
Wintrust Business Lunch
Tariff impact, Fed decision, Mother’s Day treats
.cls-7{fill:#fff;fill-rule:evenodd}
Popular Gold Coast bar, Butch McGuire’s, plans to expand
.cls-4{fill:#000;}
Forecast shows improved revenue projections for Illinois
.cls-4{fill:#000;}
Buffett steps down, tariff uncertainty, Fed policy
.cls-7{fill:#fff;fill-rule:evenodd}
Rivian to expand footprint with supplier park in Normal
.cls-4{fill:#000;}
Click for more
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