Google's new Chicago headquarters expected to drive Central Loop redevelopment
By
Brian J. Rogal
Summary
Google's upcoming Midwest headquarters at the James R. Thompson Center in Chicago's Central Loop is expected to catalyze a wave of redevelopment in the area. Brokers and developers anticipate that Google's presence will help fill vacant offices, revive aging skyscrapers with new apartments and hotel rooms, and attract other businesses that work with the tech giant. The Central Loop has been struggling with a post-pandemic office market downturn, and Google's move is seen as a potential turning point for the district's recovery.
Source
bskyGoogle's new Chicago headquarters expected to drive Central Loop redevelopmentchicagotribune.comKey quotes
· 3 pulledWhen Google opens its new Midwest headquarters at the James R. Thompson Center late next year, brokers and developers say it could kick off a wave of redevelopment that finally cures the Central Loop's post-pandemic hangover.
Other mammoth rehab projects in the works nearby are expected to help fill vacant offices and revive aging skyscrapers with new apartments and hotel rooms.
And once Google is established in its new offices, companies that do business with the tech giant could start checking out potential spaces in the area.
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