Back-to-office trend fades, worsening potential ‘doom loop’ for big downtowns like Chicago’s

The pandemic has caused a "doom loop" for downtown areas like Chicago, where office occupancy has flatlined at around 50% of pre-pandemic levels. This downward spiral is caused by the reduced assessed value of big office buildings, leading to less property tax and reduced government services. San Francisco is the most frightening example of a city in free fall, and it serves as a warning for other cities to reverse the work-from-home trend and break the "doom loop".

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