CHICAGO-Most office experts were somewhat off – building new indowntown Chicago was supposed to have been at least a year or twoaway – but a number of companies including Hineshave come forward with one-million-square-foot building plans forthe city, even as vacancy rates rise to more than 15%.

Most are crediting the few large block users circling thedowntown for 100,000 square feet or more, while there is only adozen or so available properties. However, that’s only part of thestory, says Rich Gatto, EVP at the locally basedAlter Group. The residential push in the past 10years, bringing many high-rise condo and apartment towers to thedowntown, has met up successfully with the recent trend bygraduates who want to live in a 24-hour city, he says.

Gatto talked with GlobeSt.com about how this trend, and anexpected job resurgence by companies moving downtown to harnessthese employees, will boost the city’s global standing.