Bradford Allen is pleased to share our latest office market reports.
This quarter in Chicago’s downtown office market:
- Q3 2025 net absorption was approximately negative 170,000 square feet, an improvement over Q2’s negative 1.7 million square feet..
- Direct vacancy was 24.4%, in-line with last quarter’s record high 24.7%.
- The average gross asking rates were up slightly from the prior quarter to approximately $42 per square foot.
- Move-in ready suites continued to outperform the market, accounting for over 40% of all leased square footage year to date.
- West Loop and Central Loop combined to account for almost three quarters of all leasing activity by square feet.