Wednesday, February 23, 2022

7-11 on South State (533 S. State) Closing ; A Sign of Bigger Challenges in the Loop?

Mr. South Loop posting about a 7-11 closure on South State:

While one 7-11 closing isn't much news (especially with two other ones in close proximity in the area), it is interesting to see.  Based on the caption it seems like it's a function of lack of business, but also points to a challenging situation on South State further North.  

If you've been North of Ida B. Wells you'll notice numerous storefronts that are empty.  State street was arguably the second biggest "shopping street" downtown behind Michigan Avenue.  While some stores further north are still open the further you go south it gets pretty bleak and desolate.  

This dynamic has always been in place for awhile, but seems like the pandemic has really exacerbated the problem.  The question is - will this bounce back? and if so when?  

There are some major challenges with the loop and how many office workers will return.  It seems like the typical 5 day in-office work experience ain't coming back.  That puts extreme pressure on these retail storefronts.  The value has decayed quickly.

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