Downtown lost a lot of jobs as well though.ĭowntown residential and job growth is great as it increased the tax base and consumer spending in the city's core points we all know. Downtown Chicago most likely is growing in terms of residents, perhaps jobs etc. Interesting.Ĭhicago is well known for its ''media'' focusing on good news. On another website I supposedly can't name, the Chicago Economics thread has a new story daily about some company moving here or expanding. All this doom and gloom yet downtown population is growing, 18 high rises are being built, and you hear news all the time of suburban companies relocating to the city and other out of state companies expanding or moving here. Too scary of a term with way too much of a psychological reaction on our part. Not a Great Depression perhaps but since the '30s, you will never hear any economic calamity called a depression again. Anything called a Great Recession is aka a depression. We're recovering from a depression, which is not a p.c. This is just the long term effect of a large decrease in disposable income among lots of people, even in prosperous Lakeview/Lincoln Park. Let's face it, folks' spending power has diminished greatly since at least '08. Chains arriving indicate increased rental rates chains leaving generally indicate decreased traffic. I agree that the ''chains'' only close locations when they underperform. I noticed this in the vast vacancies at this intersection in '08. The 90s reinvented the area and since the real estate crash of '06-the recent stabilizing/increases in some areas, this intersection has suffered from vacancies. This area was not great back in the late '80s-'90s busy, but not great in terms of upscale or chain stores. Right, especially with Walgreens and Panera. All the stores I mentioned are big chains that can absorb higher rents far better than the little guy can.Ĭhains typically close locations when they underperform.
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