The head of the Chicago Loop Alliance is stepping down, after 13 years and at a critical time for Downtown’s revitalization efforts.
Michael Edwards will leave his role as president and CEO on March 31. The member-based organization has hired a search firm and aims to name Edwards’ successor by April.
“While it has been an extraordinary honor to serve this organization and our city for the past 13 years, I believe it is time for new leadership,” Edwards said in a news release. “Together, we have worked to shape the Loop into a vibrant, inclusive and economically resilient district that reflects the best of Chicago.”
Edwards led the recovery and reactivation efforts in the Loop after the COVID-19 pandemic and collaborated with city partners, businesses, cultural institutions and property owners. He also established the Global Business District Innovation Club, in partnership with 15 leading Downtowns in Paris, San Francisco, Tokyo and more.
His departure comes amid ongoing ups and downs for Downtown, which continues to see high retail and office vacancies since the pandemic shifted work remote.
Weekend pedestrian traffic surpassed 2019 levels by 116%, according to the alliance’s most recent State of the Loop report, covering July to September 2025. But average pedestrian activity on State Street in the third quarter was 89% of 2019 levels. Chicago’s office occupancy rate averaged 57% in that period.
Loop Alliance plans to release its fourth quarter report by the end of this week.
In September, more than one million people visited the Loop for festivals organized by the Department of Cultural Affairs and Special Events, as well as Sundays on State events, Loop Alliance said. The latter street fair launched during Edwards’ time as CEO.
Yet concerns about the presence of federal immigration agents and the National Guard have dampened tourism in the city, according to local business leaders. International tourism to the U.S. was also down overall last year.
Recent high-profile incidents of violence Downtown also sparked concerns. In November, a 14-year-old boy was killed on State Street outside the Chicago Theatre in a shooting after the city’s annual Christmas tree-lighting ceremony in Millennium Park.
Loop Alliance declined to comment about the impact of the shooting on Downtown. But a spokesperson said that during the holidays, “many retailers reported positive activity within their stores. Pedestrian activity along State Street in the Loop was within 25% of 2019 levels, a healthy indicator that shoppers and holiday revelers still enjoy holidays in the Loop.”