The Chicago CBD is experiencing real estate development interest along major corridors of arts participation and patronage. If this trend is causal, the South and Far West Loop merit further development interest moving forward.

1. © 2017 Jones Lang LaSalle IP, Inc. All rights reserved.
For more information, contact:
Snapshot
Submarkets develop in Chicago artists’ footsteps
Source: JLL Research, City of Chicago, ESRI
Criteria for “non-artists”: net worth greater than $100K, own investments, have pet insurance, own
a vacation home, own a home, work in tech, professional services, or business
Jane Acker | jane.acker@am.jll.com
• Chicago CBD submarkets with the highest arts vibrancy are also the spaces for up-and-coming real
estate development.
• The Approach: We inversely mapped demographics correlated with being a non-artist. The shaded-blue block
groups under the mapped artists’ concentration represent high concentrations of arts patronage in the last
12 months.
• The Trends: The Goose Island area houses a surprisingly high concentration of top-tier performance venues, while
average land and property sale prices top $200/psf. In the South Loop, Related ramps up plans for 62+ acres and
1,200 hotel units deliver by the end of September. Lastly, Chicago arts patronage is concentrated on the North
Side near the Belmont Theater District and in the Central and East Loop. Recent multifamily development in the
Loop also recognizes demand for access to arts and culture.
September 18, 2017
Chicago CBD
Chicago
Submarket
# of Major
Performance
Venues
% of YTD
Building
Permits
Belmont Ave 7 21.6%
South Loop 7 9.3%
Central Loop 6 9.5%
East Loop 5 7.9%
Goose Island Area 5 3.9%
N Michigan Ave 3 15.4%
River North 3 12.5%
West Loop 1 10.5%
Kennedy West 1 9.6%
Where Artists Live
Pink: Density by ZIP code
Venues and New Development