Downtown Chicago Population Grows

Posted by Terri McAuley on Monday, June 9th, 2014 at 12:33pm

Downtown Chicago condos

With all the construction in downtown Chicago over the past decade, there’s no doubt that the downtown Chicago population has grown. How much the population has grown and its impact was mostly unmeasurable until recently.

Earlier this year, The Philadelphia Center City District recently released a study that was prepared for the International Downtown Association and found some interesting information about major downtown areas across the United States including the city of Chicago.

The biggest news to come from this report was the surge in downtown Chicago’s population. Between 2000 and 2010, the Chicago population residing within the commercial downtown area grew by nearly 96% and by 46% within one mile of that area. Additionally, Chicago is second among major cities with 51.8% of workers living within one mile of downtown who work within one mile of downtown.

While employment across the US has been decentralizing for decades and now averages only 0.05 jobs per acre, 28 major urban employment centers have achieved densities in excess of 100 jobs per acre. Downtown Chicago, University of Illinois and University of Chicago have 1.261 million jobs.

The report says that “for more than three decades, downtowns in the United States have diversified their economies and land use, restoring and animating public spaces. City centers, primarily places to work and shop in the mid-20th century, have been adding arts, cultural, dining, education, medical, and research institutions, along with hospitality, leisure, and sports venues. Simultaneously, there has been a dramatic and sustained increase in residents living both within business districts and in adjacent neighborhoods”. The report goes on to say that “Downtowns, once shunned as empty, unsafe places at night, are now being redeveloped at higher density and are thriving after dark. Patrons of downtown regional destinations mingle with office workers and resident young professionals, empty nesters, and, in many cities, an expanding number of families with children. The trends of diversification, densification, and adjacent residential revival are also occurring on and around urban colleges, universities, medical centers, and research parks as well as around other major employment nodes outside the traditional downtown.”

This means that living in the city of Chicago is more popular than ever. As the number of jobs within one mile of the commercial downtown area continue to increase so will the number of people living in that area.

If you’d like to learn more about great Chicago condos or other Chicago homes for sale, please contact Terri McAuley, one of Chicago’s top real estate agents.

By:  Terri McAuley

Chicago Condos for Sale

Cell: 312-330-3211

“Chicago’s Luxury Condo Specialist”

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