THE LOOP — Google’s $105 million purchase of the Thompson Center in 2022 marked a turning point for Chicago’s struggling financial district. Plagued by high office vacancies and dwindling foot traffic, the area is now being primed for city-backed residential projects and the arrival of thousands of Google employees.

While completion of the projects is at least two years away, early signs suggest the revitalization will reshape the Loop’s future and could spur an economic boom, industry experts said.

“I think a small boom is fair … people didn’t expect what happened to Fulton [Market] until Google came there, and then it took off like the Wild West,” said Andy DeMoss, senior managing director at Bradford Allen, a Chicago-based commercial real estate and investment firm.

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