The Loop is one of four downtown community areas in the City of Chicago. It has a prime central location and is undoubtedly one of the most iconic areas of Chicago. Whether you’ve lived in the Chicago area your entire life or you’ve only visited for a few days, there is no question that you’ve spent some time in the Loop.
As a business owner, you must decide whether or not the Loop is a good fit for your employees and their productivity. While it is not right for everyone, millions of people enjoy having easy access to social and professional networking opportunities, after work entertainment, and a variety of transportation options. As you weigh varying options for your office location, consider the following factors.
1. Access to entertainment
There are numerous attractions in the Loop including Millennium Park, the Art Institute of Chicago, and the Chicago Architecture Foundation. Chicago’s theater district includes the Bank of America, Auditorium, Chicago, Cadillac Palace, Goodman, Gene Siskel Film Center, Oriental, and Harris theaters. The Chicago Loop Alliance programming and regional events include Taste of Chicago, the Chicago Marathon, and Lollapalooza, which attract millions of attendees annually. The Loop is also home to a strong retail market, a diverse mix of restaurants, and a slowly expanding nightlife.
2. Networking with like-minded professionals
The Loop boasts an extensive, diverse workforce base with a staggering amount of talent. Whether you’re simply looking for a few friends to enjoy drinks with on the weekends, you’re hoping to meet a long-term romantic partner, or you want to make connections that will help you move up the corporate ladder, the Chicago Loop is a great place to live. With over 400,000 daily Loop workers, there is a lively weekday scene. It is not hard to find a local joint in close proximity to your office to make new and further existing connections over lunch or a post work drink.
3. A strong mix of businesses
There are a wide range of companies that have headquarters in the Loop including government entities and financial, legal, and creative companies. The area is home to approximately 42 percent of the competitive office space in the city. With available class B and C offices and flexible workspaces, there are lots of choices for creative, non-traditional office setups. The many assets that the Loop offers have brought organizations in from numerous Chicago locations as well as out of state and even overseas destinations. The list spans MillerCoors to Morton Salt to Exelon to BlueCross Blue Shield Assocation to Leo Burnett Worldwide.
4. A creative environment
One of the biggest players in the Loop’s creative scene is the expanding college population. Among others, the area is home to Columbia College, DePaul University, Everest College, Roosevelt University, Robert Morris University, and the Lake Forest Graduate School. Chicago has a long tradition in up and coming and experimental theater. The residents are not afraid to take up new creative initiatives, regardless of public opinion. If you want to be at the heart of this action, the Loop is a great place to live.
5. Strong residential growth
Thanks to the boom in residential development, the Loop population continues to grow. According to the Census, the residential population almost doubled from 16,388 in 2000 to 29,283 in 2010. During this time period, over 8,000 new units were added to the Loop. There are multiple apartment and student housing complexes under construction with more in the works.
6. Centrally located for transportation
The Loop has a central location in the city, providing easy access to the amenities of the surrounding neighborhoods and suburbs. All of the Chicago Transit Authority (CTA) train lines and over 20 bus routes feed right into the Loop. Millennium, Ogilvie, and Union Stations also service regional and national passenger trains daily. O’Hare and Midway International Airports are located within an hour of the Loop and are accessible by train or car. These airports run hundreds of national and international flights daily. If your employees are planning to own cars, the Eisenhower Expressway, Lake Shore Drive, and I-90/94 all converge in the Loop. Finally, for walking access, the Chicago Pedway connects numerous Loop offices, shopping centers, train stations, and hotels, offering protection from the elements.
7. Recreation options
Grant Park and the 18-mile Lakefront Trail serve walkers, cyclists, and runners throughout the greater Loop area. There are lots of choices for leisure, exercise, and alternative transportation. For employees who love all that the Loop has to offer but want to live in another neighborhood, cycling can be a great mode of transportation. Chicago boasts the Divvy bike sharing system with 4,000 bikes and 400 stations across the city.