Chicago Marathon to give city a hefty economic boost, record number of runners

During the Chicago Marathon weekend, tables turn over quickly at Sofi, an Italian restaurant in Printers Row, as carb-loading runners stuff themselves with pasta.

The race boosts business by 300%, said owner Maurizio Michi, who expects 600-800 customers on Saturday, the eve of the Bank of America Chicago Marathon. It’s the biggest event of the year in terms of customer volume for Sofi at 616 S. Dearborn St., not far from the starting line in Grant Park.

Sofi will serve bigger portions this weekend to match runners’ big appetites before and after running 26.2 miles.

“Same price but more carbs to ensure they have the best race possible,” Michi said. He also expects hundreds of runners at the restaurant on Friday and Sunday. “Every year we increase and increase.”

That could also be said of the marathon — one of the six World Marathon Majors — and its economic impact on the city. In the largest-ever race, more than 50,000 runners are expected to cross the finish line. In 2023, it counted 48,472 finishers and 45,932 in 2019, according to organizers.

Runners, their supporters and an estimated 1.7 million spectators are expected to have a tremendous economic impact on Chicago. They fill hotels and restaurants and flock to shops and tourist attractions. The marathon also comes at an important time as Chicago — along with cities across the U.S. — try to rebound in the aftermath of the pandemic.

In 2023, the marathon generated a record-breaking $547 million in economic impact for the city, a 42% increase from $386 million in 2022, according to an independent study by Jones & Associates Economics released last month from Bank of America.

“Marathon weekend is one of the most important dates on the calendar in Chicago,” Rich Gamble, interim CEO of Choose Chicago, said in a news release.

By comparison, July’s NASCAR Street Race generated $128 million in economic impact, according to a report commissioned by Choose Chicago, the city’s tourism agency. Last year, the two-day race generated $108.9 million in economic activity.

Although the Chicago Marathon is one of the largest economic drivers for the city, it hasn’t stirred up controversy like NASCAR or the Democratic National Convention. Other major events raise concerns about disruptions such as street closures, noise and security. Whether big-name events really benefit greater Chicago or line organizers’ pockets is also a common debate.

Organizers have not estimated the impact of this year’s marathon. But “given the interest and excitement around this year’s event, we expect the economic impact will increase in 2024,” said Carey Pinkowski, Bank of America Chicago Marathon executive race director.

Since 2017, the marathon has had a cumulative economic impact of more than $2.3 billion. Last year, it directly contributed to 3,694 full-time jobs and $183 million in wages and salary income, according to Bank of America’s report.

During past marathon weekends, Daniel Briceno saw an increase of 50%-120% at his restaurants, Fons and Taqueria Mexicana in the Loop and West Loop, respectively.

At his new Peruvian restaurant Kayao in Old Town, he is planning a special marathon weekend menu. Brun, his Lincoln Park cookie shop that’s along the marathon race course, will have expanded hours on Sunday.

“We definitely see a lot of people on race day,” Briceno said.

Runners come from all over Chicago, world

The race draws participants from all 50 states and overseas. Last year, 35% of runners were international.

“This is hugely beneficial for our local tourism and hospitality industry as overseas tourists tend to stay twice as long and spend twice as much as domestic visitors,” a Choose Chicago spokesperson said.

This year, organizers expect more than 15,000 international runners from 143 countries, with most from Mexico, United Kingdom, Canada, Brazil and Germany.

Katie Thomspon of London will run the marathon during her first visit to Chicago. She’s staying for six days to explore the city and plans on doing the Chicago Architecture Center’s river cruise as well as the Chicago Riverwalk.

Thompson is traveling with a fellow marathoner friend from South Africa. Their downtown hotel is hosting a carb-loading dinner on Saturday. After the race, they’ll likely head to Soho House “for a bit of comfort food,” Thompson said. “We also want to check out Lula Cafe in Logan Square and maybe grab a deep-dish pizza.”

Runners also represent Chicago; this year, they come from all 50 wards. The race also has a wide impact since it winds through 29 neighborhoods, from the Loop to Wrigleyville to Pilsen.

“While every major event is important, the Bank of America Chicago Marathon is unique in the way that it engages local residents more than other significant recent events, and also in how it brings visiting runners through some of the most beautiful parts of our city,” Choose Chicago said.

The Godfrey Hotel sits along the marathon course in River North. Its more than 220 rooms are booked from Friday to Sunday with about 90% occupied by runners, said Daniel Grajdura, area sales director at the Godfrey. About 30%-40% of those guests are international, particularly from Spain and France.

“Returning groups love to stay with us because of our location,” Grajdura said. International runners “want to experience Chicago and see what it has to offer. And the weather is perfect this time of the year.”

The Godfrey will host a marathon day rooftop brunch and offer runners plenty of bananas and bottled water. It also awards female and male guests with the fastest marathon time a free stay in the future.

Fundraising boost

The marathon is also a major fundraising event with runners raising millions for local, national and global causes. In 2023, about 12,300 runners raised $30.4 million, the highest total in the race’s 47-year history, according to organizers. This year, more than 14,000 participants are raising money for charity.

For animal welfare nonprofit PAWS, the Chicago Marathon is one of its biggest fundraisers of the year. PAWS is the largest local charity team this year with 553 runners, compared to 483 in 2023. It had 13 runners in 2005, when its marathon program began. For the first time, runners have raised $1 million for PAWS this year.

“The helpless animals we save truly inspire our runners to give their all to the race,” Susanna Wickham, PAWS Chicago CEO, said in an emailed statement. “Throughout their training, we send them the medical and survival stories of animals saved thanks to their fundraising that they can share with friends and families. This event truly builds community like no other.”

Frankfort resident Carl Allegretti, 63, is running his 70th marathon, which he swears will be his last. He’s run at least 10 Chicago Marathons. Allegretti has raised the most money of any runner — $172,000 for PAWS, Lurie Children’s Hospital of Chicago and the Greater Chicago Food Depository.

“I love the city of Chicago. Running through my hometown is great. From the start to end, there are people,” Allegretti said.

He will stay at the Hilton in the Loop on Saturday night and plans to eat at Rosebud Steakhouse.

“I’ve been working in Chicago for 41 years. I know the city like the back of my hand,” said Allegretti, who reminisced about running the marathon through Little Italy and Chinatown.

When asked about his favorite part of the race, he said, “The 26th mile. I know I can make 0.2, my friend.”