'That's Right Around The Corner': Chicago Real Estate Group Says More Will Return To The Office This Spring
CHICAGO (CBS) -- There are several, new signals that workers may be returning to downtown Chicago in big numbers.
On Thursday, Illinois had its lowest number of new COVID cases since November. A trendline that's enticing a lot of bosses in downtown Chicago to accelerate plans to get workers back in the office. CBS 2's Chris Tye has more.
"Is the end of the first quarter a hard deadline? Of course not, but it's right around the corner."
That's when Chicago is likeliest to turn the corner, according to Steve Steinmeyer. He's head of "Chicago Returns" -- a group evaluating when businesses will return downtown in big numbers. CBS 2 spoke to him on the 70th floor of a Chicago high-rise which looks down on hotels that have sat largely empty and train lines running less frequently.
He said the switch is about to flip on downtown activity.
"Everything has been prepared and people have been waiting for this," Steinmeyer said.
His group surveyed dozens of Chicago CEOs and CFOs. He found 82% plan on majority workers back to offices by the end of March and 79% anticipated that employees will be in an office for three or more days per week.
Will the workplace eventually go back to everyone five days at some point?
"That will be a fun parlor game for those of us in the real estate business."
And those in the transportation business are in the game of estimating traffic flow too. Metra is running 80% of pre-pandemic trains. The rail service is tracking ridership and talking with business leaders about when to add more trains.
Two lines often are leading indicators of future passenger growth. The Metra Electric and Rock Island lines have seen higher demand.
Metra said more essential workers live along those routes on the south and southwest sides. And Metra has offered lower promotional fares on them too.
"By early spring, we are going to have a lot more people back into the city," said
The trickle down effect for businesses that survived the 24 month slowdown will be far and wide, and those running these buildings and train lines hope it will happen by the end of March.
CTA never cut back on train or bus service through the pandemic, so for the Chicago Transit Authority, it will be more riders, but no additional trains or buses.