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Loop Retail on the Rebound

Retail in the Loop, which has struggled mightily in recent years, is showing signs of life, according to a report from Baum Realty. At the height of the recession, the Loop experienced 13 to 14 percent vacancy rates, but those rates shrank to 6.9 percent in 2010, buttressed by the Target that's set to open in the Carson Pirie Scott building, a handful of new restaurants, and a half-dozen new clothing stores. Despite the success, though, Block 37 is still 60 percent vacant. [Chicago Tribune]