Although the need to work from home due to COVID-19 is waning, many companies are planning to continue a hybrid work model. Offices will not necessarily become a place for essential team collaboration and socialization. Currently, a lot of office space is still highly vacant, so it will be interesting to see what happens in Chicago’s downtown.
Chicago retail is bouncing back, says Richard Spinnell of Mid-America Real Estate Group. He mentions the Gold Coast, Southport, and Fulton Market as some of the hottest areas and expects the city as a whole to recover this year.
State-funded Jackson Park Mobility Project began in February and is part of Illinois 6-year, $21B Road and Bridge improvement plan. These projects will enhance access throughout the city and to the future Obama Presidential Center.
Developer, The Habitat Co., is set to break ground on a 343-unit luxury residential tower in the Fulton River District. The 344 North Canal St. project will be another exciting development in the up-and-coming neighborhood.
Brinshore Development and The Chicago Lighthouse are bringing a 76-unit mixed-use project for the blind to the Illinois Medical District. The project is the first in the 116-year history by The Chicago Lighthouse, a Chicago group that aids blind people.