New life is brought to the southwest Chicago Loop
The South Loop and emerging Southwestern part of the West Loop have seen revitalization through repositioning dormant assets in an old industrial neighborhood.
- Although a different culture from the Fulton Market neighborhood, the South Loop and emerging Southwestern part of the West Loop have seen revitalization through repositioning dormant assets in an old industrial neighborhood.
- In 2018, suburban and downtown companies alike migrated to the Southwestern part of the Loop, notably leasing space in repositioned assets such as Willis Tower, The Old Post Office and 300 S Riverside. Additionally, long term tenant of the West Loop, CDW, and long term tenant of the Central Loop, BMO, announced anchoring leases at new developments delivering in the next few years.
- In the foreseeable future, not only will there be an increase of workers, but residents filling up the new high rise apartments like NEMA Chicago (bringing 800 rental units this Spring), Essex on the Park and other high profile multifamily developments delivering in the South and West Loop.
- Historically, this part of this city is seen as a 9AM to 5PM pocket of the Loop, but with so much development and the momentum in the area, it can only benefit from further investment by landlords, the City, and employers.
Source: 601W Companies, Riverside Investment & Development, Related Companies, Blackstone, CMK, Lendlease, JLL Research