Chicago Loop Turns Residential

The Loop's residential area has nearly tripled to more than 20,000 over the last 10 years

More people are living in the Loop these days.

The Chicago Loop Alliance released a report showing the downtown area's residential population has nearly tripled to more than 20,000 over the last decade, according to the Chicago Sun-Times.

It appears there's a growing number of college students moving to the Loop, which contributes to the change. The report shows there are now 65,500 students in the downtown area, compared to 52,000 students in 2005.

But the Loop also has lost thousands of jobs. The Chicago Sun-Times reports that in 2000, there were 338,000 private sector jobs, but in 2010, the total was 275,000.

Despite these job losses, the report shows a downtown area that is still attractive for businesses because of the easy transit access and the ability for employees to live close to work.

The Chicago Loop Alliance used estimates from the 2010 Census and hired Goodman Williams Group Real Estate Research to put together the report.

The Loop was defined in the report as being between the Chicago River on the north, Canal Street on the west, Congress Parkway on the south and the lake on the east.

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