Retail sales in Chicago returned to pre-recession levels in 2014, approaching $17.1 billion according to JLL's tax-based retail activity index. Since hitting a low point in 2010, retail vacancies have steadily declined as the job market and consumer spending have increased. This has driven a shift towards urban retail corridors over suburban malls, fueling new retail development in the city.

1. Chicago
Chart of the week: May 18, 2015
Source: JLL Research, Illinois Department of Revenue, CoStar
Retail sales activity approaches prerecession
levels
108.1
90.9
108.5
80
90
100
110
120
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
National Recession
Baseline
Inflation Adjusted Retail Index
• JLL’s tax-based retail activity index indicates that retail sales in Chicago returned to precession levels in
2014 as total sales approached $17.1 billion. Following a steep contraction retail sales have been growing
at an inflation adjusted average of 3.6 percent annually since 2010, a rate that exceeds average growth from
the years leading up to recession by 120 basis points.
• Since peaking in 2010, retail vacancies in the city have steadily improved as the job market has recovered
and consumer spending habits have ramped up. Along with the recovery we have seen a shift in consumer
preference from suburban shopping malls to urban retail corridors like New City and Michigan Avenue and
this is driving retail development in Chicago.