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🏙 Chicago’s Downtown Recovery

🏙 Chicago’s Downtown Recovery

AND Tech Events in the Windy City

Landon Campbell
July 15, 2024

In partnership with

67th Edition

✍🏽 This Week’s Lineup:

🏙 Chicago’s Downtown Recovery

📊 Chart of the Week

📆 Events Around the City

🔙 Previous Editions of the Driver’s Seat

🏙 Chicago’s Downtown Recovery

Chicago’s downtown is witnessing a dynamic shift in activity tied to post-pandemic recovery:

Post-Pandemic Comeback

Chicago's overall recovery rate has reached 61.5% of pre-COVID levels, showcasing our city's resilience in revitalizing downtown.
Chicago's weekend activity has nearly returned to pre-pandemic levels, reaching 95.6% of what it was in 2019.
The recovery rate during traditional working hours (9 AM to 5 PM) remains at 52.7%, which is around the same percentage as other major metros.

Evening Activity is Back

Activity levels in downtown Chicago after traditional work hours (6 PM to 10 PM) have surged to 91.5% of pre-pandemic levels.
The increase in evening activities has led to a higher usage of public transportation during non-peak hours.
Activities and events, especially during the summer, have played a crucial role in creating a lively downtown hub. These activities attract locals and tourists, providing an economic boost to the city.

Why This Matters

Areas like Fulton Market are important to Chicago as they examples of livable, workable, and playable communities, which boost our downtown's recovery.
As tech jobs leave CA (chart below), Chicago can position itself as a prime destination for professionals seeking new opportunities.
By attracting more tech companies to developing areas of the city, Chicago can increase its overall recovery rate and ensure sustained activity throughout the week.

📊 Chart of the Week

Chicago is still a strong city for consumer startups.

Carta shared data on the volume of capital raised for consumer startups in the US. Chicago ranked #5 on the list, and the largest hub for consumer between the coasts.