Year-End 23 Suburban Chicago Office Market Report

Bradford Allen is pleased to share with you our latest office market report. The second half of the year in the suburban office market: Leasing activity remained above pre-pandemic levels with more than 5.2 million s.f. leased through 2023. Absorption remained negative with -930,000 s.f. absorbed through the back half of 2023, resulting in -1.2 … Read more

Q4/23 Downtown Chicago Office Market Report

Bradford Allen is pleased to share with you our latest office market report. This quarter in the downtown office market: Absorption remained negative with -530,000 s.f. absorbed through Q4/23, resulting in a total of -1.6 million s.f. of net absorption through 2023. The direct vacancy rate surpassed 20% in the CBD. Available sublease space on … Read more

Q4/2023 Chicago Office Market Reports

Very successful brand is built on strong foundations that support its mission, vision and core values. 91% of consumer are more likely to do business with recognizable and memorable brands that provide them with relevant offers. Why is that important? Because recognizable messaging and tone of voice, memorable visuals and core values that speak to … Read more

Q3/23 Downtown Chicago Office Market Report

Moderate market activity amid high uncertainty In Q3/23, Chicago’s CBD occupancy levels and gross asking rates remained relatively unchanged from the prior quarter. The office market’s direct vacancy rate was 19.8%, while the average gross asking rate held at $44 p.s.f. Absorption levels turned negative this quarter at -432,000 square feet, resulting in year-to-date absorption … Read more

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