Why Thermostats, Crowded Trains and Eating Out Matter
Sometimes the most comforting economic indicators come from the most unexpected places. You can look at a strong Chicago Purchasing Managers Index and unexpectedly robust retail sales to see a positive outlook for the Chicago economy, Crain’s Chicago Business reports. But here are some more surprising signs that the city’s financial confidence, and real estate in turn, is improving:
- ComEd seeing its highest growth in electricity consumption since the recession (well, this one’s only good news if you’re not footing the bill).
- CTA rail ridership up, especially in the Loop and River North (hence the boost in TOD).
- We spent $700M more eating out in 2014 compared with 2013 (better cozy up to those restaurant tenants).