Downtown Chicago office market recovery continues, but it’s a slow and uneven climb Despite the spate of disappointing leading economic indicators and persistently high unemployment, the Chicago office market appears to be moving in the right direction, albeit slowly. The overall availability rate in Chicago’s central business district (CBD) remains elevated at 18.4%, but there are … Read more
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Chicago Suburban Office Market Report 3Q’11
Downtown Chicago office market continues to exhibit slow, steady improvement during the second quarter Reflecting a continued slow recovery in the broader economy, the downtown Chicago office market offered up some good news during the second quarter. The availability of direct and sublease space declined during the quarter, and a slight firming of demand helped … Read more
Overall tone of suburban Chicago office market slowly improves, but market dynamics still favor tenants From the perspective of transaction activity and general interest in suburban Chicago office space, it is clear that the market has stabilized and improved since the depths of the financial crisis. However, the recovery continues to be slow and uneven. Overall … Read more
Bouncing along the bottom: Downtown office market remains stable as it grinds through sublease space The encouraging streak of recent quarters of positive net absorption did not continue during the first quarter, but we do not think this portends any real deterioration in the market. In fact, we continue to believe that the overall Chicago … Read more
Signs of slow improvement continue to emerge in suburban Chicago, particularly in Class A Space Although the Chicago suburban office market appears to have stabilized, there is no escaping that significant excess supply, both direct and sublease space, continues to overhang the market. The good news is that leasing activity, which re-emerged and accelerated last … Read more
Year-end conditions show mixed results, but signs are pointing to a slow recovery The commercial office market in Chicago’s central business district (CBD) appears to have bottomed out in 2010. The overall annual net absorption rate (the net change in occupied space) and increased sales activity seem to indicate a slowly reviving market. Annual net absorption … Read more
Despite sluggish leasing market, market fundamentals show signs of stabilization The Chicago suburban office market appears to have reached its bottom in 2010. The overall annual net absorption (the net change in occupied space) and the year-to-date leasing activity seem to indicate that the market has begun to slowly recover. Annual net absorption was essentially flat … Read more
Office Market Continues to Show Signs of StabilizationInvestor confidence revisits the marketplace Vacancy Starts to StabilizeIndicators show the Central Business District (CBD) is steadying as we navigate the bottom of the downturn. Overall vacancy decreased nominally in the sec ond quarter to 15.9%, from 16.0% posted in the first quarter, but still higher than the … Read more
Office Market is Navigating Bottom of DownturnNew buyers help spur office sales as asset prices are established Available Space Starting to SteadyDeclining availability is one indication the Chicago suburban office market is approaching, or is at the bottom of, the downturn that began in 2008. Overall availability, following eight consecutive quarters of raises, declined for … Read more
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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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.
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.
