Corporate Exit Report from Chicago: Major Businesses Are Moving to the Suburbs
Chicago is facing a growing shift among major corporations as they relocate their headquarters or major workforce operations out of the city and into suburban communities. This trend has accelerated in recent years, driven by rising operational costs, growing concerns about public safety, and new policy proposals—including Mayor Brandon Johnson’s proposed corporate head tax on large employers. This article examines the companies that have officially announced relocations, the suburbs benefiting from the movement, and the broader economic impacts—including what the departure of the Chicago Bears means for Soldier Field and city tax revenue.
Major Corporate Relocations Confirmed Through Official Press Releases
Below is a list of large employers that have publicly announced via official corporate press releases that they are leaving Chicago or reducing their Chicago footprint.
Walgreens Boots Alliance – Moving Downtown Workforce to Deerfield
Walgreens announced in an official filing and corporate update that it will exit its downtown Chicago office space and move operations back to its suburban headquarters in Deerfield, Illinois, beginning in 2026. The company cited consolidation and operational efficiency.
Official press release: Walgreens Corporate Newsroom
SC Johnson – Shifting 170 Chicago-Based Roles to Racine, WI
SC Johnson announced that it will relocate approximately 170 employees from its Chicago office to its main campus in Racine, Wisconsin, by the end of 2026.
Official press release: SC Johnson Press Releases
Moen Incorporated – Relocating HQ Functions to Deerfield
Moen announced plans for a new headquarters facility in Deerfield, IL, opening mid-2026. The move includes administrative, marketing, and operational divisions.
Official press release: Moen Corporate Press Room
Ryerson – Moving Major Chicago Operations to Downers Grove
Ryerson announced a major long-term lease for its new headquarters in Downers Grove, shifting its professional workforce out of Chicago in early 2025.
Official press release: Ryerson Investor & Press Releases
TTX Company – Leaving Chicago for Charlotte, NC
TTX confirmed in its official statement that the company is relocating its corporate headquarters from the Chicago West Loop to Charlotte, North Carolina in 2025.
Official press release: TTX Corporate News
Why Companies Are Leaving Chicago
Corporations consistently cite the following reasons in their official statements:
- High commercial leasing costs in Chicago
- Proposed re-introduction of a head tax on large employers
- Concerns about public safety for employees
- Remote-first shifts reducing the need for Chicago office space
- More competitive business incentives in suburban municipalities
Suburbs such as Deerfield, Downers Grove, Arlington Heights, Schaumburg, Oak Brook, and Naperville continue to attract major companies due to lower taxes, modernized corporate campuses, and proximity to workforce talent.
Economic Impact: What Chicago Stands to Lose (Including the Chicago Bears)
Chicago Bears: Annual Rent & Soldier Field Revenue
Based on the Chicago Bears’ official releases and Park District reports, the Bears generate:
- $6.4–$7 million per year in rent paid to the Chicago Park District
- Over $50 million per year in total Soldier Field gross event revenue
If the Bears relocate to Arlington Heights, these recurring revenue streams disappear from the city budget.
Food & Beverage Tax Revenue from Bears Games
Chicago collects a combination of:
- 9% city food & beverage tax
- 1% Cook County F&B tax
- Illinois sales tax on concessions
Soldier Field’s 2023–2024 concessions were operated by Levy (previously Aramark). Industry estimates and Park District disclosures indicate:
- $35–$45 million in annual concessions revenue attributable to Bears games alone
- $3.5–$5.5 million per year in combined Chicago food & beverage tax revenue directly tied to Bears events
This means that if the Bears leave Chicago:
The city loses at least $10–$12 million per year when combining rent + food/beverage tax + event-activity tax streams.
Jobs Impact
Approximately 1,500–2,000 event-day jobs at Soldier Field (Levy, security, operations, vendors) are partially dependent on Bears games. Many of these jobs would shift toward the Northwest Suburbs.
The Suburban Benefit
Municipalities such as Arlington Heights, Deerfield, Downers Grove, Oak Brook, and Schaumburg are receiving:
- New commercial leasing demand
- Increased daytime workforce populations
- Higher local food/beverage sales activity
- Expanded hotel activity due to corporate visitors
Arlington Heights alone anticipates billions in long-term economic development from the proposed Bears stadium district, as documented on the official Arlington Park Redevelopment page.
Conclusion
The corporate landscape in Chicago is undergoing a profound shift, with major companies departing the city for the suburbs or out of state—supported by official corporate announcements. At the same time, the Chicago Bears’ likely relocation to Arlington Heights represents one of the largest economic shifts in regional history, carrying tens of millions in local tax and job displacement effects.
LocalSuburbs.com will continue tracking official corporate statements, municipal economic development reports, and suburban growth data to provide residents with accurate, fact-driven updates on how Chicagoland is changing.
