The first half of the year in the suburban office market: With more than half a million square feet of net positive absorption year-to-date, direct vacancy improved slightly to 25.5% from 26.1% at year-end. This net positive absorption in H1/26 is the highest first-half absorption since 2018, a further sign of improvement in the Chicago suburbs. Total … Read more
This quarter in Chicago’s downtown office market: Leasing activity remained steady, though lower, with approximately 1.2 million square feet of direct deals completed in the second quarter, compared with 1.9 million square feet in the first quarter. Direct vacancy fell four-tenths of a percentage point to 24.4%, while net absorption totaled approximately 585,000 square feet. The market may also be on … Read more
Chicago’s CBD office market supports users of all sizes, from multi-floor corporate headquarters to small partnerships. In our recent experience, space in the 3,000- to 5,000-square-foot range has become increasingly competitive, particularly in quality buildings and desirable locations. Read the full article now
Bradford Allen is pleased to share our latest office market reports. This quarter in Chicago’s downtown office market: Leasing activity decelerated with approximately 1.6 million square feet of direct deals in the first quarter versus just north of 2 million square feet in the fourth quarter of 2025. Direct vacancy rose a modest three-tenths of one … Read more
Chicago’s CBD sublease inventory surged in recent years as hybrid work reshaped office demand. Now, as availability begins to recede from its peak, sublease space is emerging as a compelling option for tenants seeking value and move-in-ready suites. Read the full article now
Bradford Allen’s research team analyzed recent CoStar data to understand how sublease activity in Chicago’s CBD has evolved since 2019, as hybrid work patterns have become more established. While overall office availability has increased nearly 75% during that time, the sublease market has followed a different path. After peaking at 7.6 million square feet in … Read more
Bradford Allen is pleased to share with you our latest office market report. The second half of the year in the suburban office market: Vacancy was 26.0%, up almost imperceptibly from 25.7% at the end of 2024, suggesting the market may be nearing an inflection point. Direct net absorption in the second half of 2025 … Read more
Bradford Allen is pleased to share our latest office market reports. This quarter in Chicago’s downtown office market: Q4 2025 net absorption turned positive for the first time in nine quarters, recording 163,433 square feet of absorbed space, bringing the annual net absorption in the CBD to negative 2 million square feet and underscoring an uneven … Read more
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 … Read more
Bradford Allen is pleased to share with you our latest office market report. The first half of the year in the suburban office market: Vacancy was 25.1% marketwide, though when excluding “zombie” buildings with minimal occupancy, the adjusted vacancy rate was 20%. H1 2025 direct net absorption was effectively zero, a significant improvement from H1 … Read more
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Bradford Allen makes your business its priority. No matter whether that’s when purchasing, leasing, or sub-leasing, our agents are experts in negotiating for your benefit.
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