|
Suburban Chicago Office Market Signals Steady—Albeit Slow—Improvement Transaction activity within the suburban Chicago office market was relatively steady to begin the year, and a healthier tone continues to characterize the overall suburban market. Although the vacancy rate edged up during the first quarter from 18.3% to 18.6%, there continues to be ample interest from tenants for high quality space. Many tenants have been motivated to upgrade their space rather than renew, particularly in situations where attractive rents and/or concessions can help offset relocation costs.
|
Cre Pulse 009: Chicago’s Resilient Suburban Office Market
Neil Bouhan
May 16, 2024
Chicago’s suburban office market is undergoing a period of intense transformation. But are the headlines about its unending struggles justified? Our latest report challenges the prevailing narrative, revealing a market
