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Submarkets develop in Chicago artists’ footsteps

  • ​Chicago CBD submarkets with the highest arts vibrancy are also the spaces for up-and-coming real estate development.
  • The Approach: We inversely mapped demographics correlated with being a non-artists. The shaded-blue block groups under the mapped artists’ concentration represent high concentrations of arts patronage in the last 12 months.
  • The Trends: The Goose Island area houses a surprisingly high concentration of top-tier performance venues, while  average land and property sale prices top $200/psf. In the South Loop, Related ramps up plans for 62+ acres and  1,200 hotel units deliver by the end of September. Lastly, Chicago arts patronage is concentrated on the North Side near the Belmont Theater District and in the Central and East Loop. Recent multifamily development in the Loop  also recognizes demand for access to arts and culture.

Source: JLL Research, City of Chicago, ESRI

Criteria for "non-artists": net worth greater than $100K, own investments, have pet insurance, own a vacation home, own a home, work in tech, professional services, or business​




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