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Chicago is the cultural capital of the Midwest, with the third largest population in the United States, following New York and Los Angeles. After the Chicago Cubs won the World Series in 2016 – the first time in 117 years – the city saw an influx of tourists, benefitting the growing retail scene. Beyond the avid sports fans, Chicago is also home to a growing millennial population that are keen on experiential retail. Tech brands like AT&T and T-Mobile have opened up brand stores on the famed Michigan Avenue while other millennial brands have chosen to open on emerging corridors throughout the city, hoping to capture the authenticity their brands identify with. Investors and tenants alike look to the Chicago retail corridors for new urban placements given the affordability of the market relative to other gateway cities in the US and Canada.
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9.5 m
Total Population
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GDP per Capita (USD)
Source: JLL, Oxford Economics (May 2018)