Statistics Remain Stable as Downtown Chicago Office Market Continues to Attract Strong Interest
By most statistical measures, the downtown Chicago office market has remained relatively unchanged for much of the first half of 2013. During the second quarter, the availability rate increased fractionally to 16.7%, while the overall vacancy rate remained unchanged at 12.6%. However, both these metrics illustrate improvement as compared to the previous year. In general, there continues to be a strong bid for quality space, and there have been many cases of both suburban Chicago and out-of area tenants canvassing for space and relocating to downtown Chicago.
