Chicago Loop Alliance (CLA) released its quarter four 2023 State of the Loop report on downtown activity, using a variety of data sources, which the organization has produced since July 2020. The report tracks pedestrian activity, shared mobility and transit, hotel occupancy, office workers on-site, arts and culture, retail, and more. Record-breaking attendance at holiday attractions; robust hotel activity and continued increases in office attributed to success in pedestrian activity and office occupancy. For the complete report, visit www.loopchicago.com

Pedestrians
In 2023, State Street in the Loop saw over 67 million pedestrian impressions. Q4’s highest level of pedestrian activity came during the week of 11/13 with 1.3 million impressions, exceeding the same week in 2019. That week, holiday attractions drew large amounts of people to the Loop, proving that investment in downtown events yields results across various sectors. Overall, total impressions in Q4 2023 exceeded 88 percent of 2019 levels, showing a 33 percent increase since 2021.

Arts and Culture
The arts & theater scene downtown continues to drive the Loop’s economic recovery. Offerings like “Hamilton,” “A Christmas Carol”, and Joffrey’s “The Nutcracker” brought 1.4 million attendees to the Loop in Q4, an increase of 40 percent from Q4 2022, and a 303 percent increase from Q3 2023. Robust theater, museum, and other cultural institutions’ attendance contributed $394 million to the Loop economy.

Retail
Holiday retail sales nationwide increased by 3 percent from 2022 according to MasterCard Spending Pulse, including a 2 percent increase for in-store purchases and 6 percent for on-line sales. Major city retail centers, like State St., continue to be top destinations for holiday shopping. Retail spaces on State St. benefited from a 10 percent pedestrian activity increase in Q4 from 2022, totaling 81 percent of pre-pandemic levels throughout the retail corridor.

Photo Credit: Chicago Loop Alliance