NBC's website had an interesting article yesterday looking at the effect of the Atlanta and Salt Lake City Olympics on their local real estate markets. From the sounds of it, Atlanta has had more success than Salt Lake post-Olympics. However, Chicago's real estate market is much much different then either of those cities, so it's tough to get a solid comparison.
However, it's an interesting subject, because the thought across our city (and specifically in the South Loop) is that it would be a big boost for real estate throughout Chicago. We've also heard the theory that it would be negative because it would drive development and over saturate the market (again!). Although there is merit to both arguments, to us the benefit of the Olympics is the signal it will send about the cities intentions for the South Side of Chicago.
Although enhancements have already been happening in and around the Sloop, more emphasis would be put on capital and infrastructure improvements. Businesses, restaurants and shops would see this as their chance to jump on the bandwagon and take advantage of an emerging neighborhood.
Sloopers please don't be offended by this. We love our neighborhood as it is right now and we know you do too, but it ain't perfect. Improvements will happen eventually, but we're confident that the Olympics would speed up the process and in our opinion that's a good thing.