Slight Improvement for Downtown Chicago Office Market
The status quo remains, with the second quarter statistics for the downtown Chicago office market. This is especially true in the context of our current macroeconomic environment that seems perpetually on the edge of crisis.
Throughout the first six months of the year, the overall availability rate in the Chicago CBD office market has remained relatively unchanged, ending the second quarter at approximately 16.9%. Not surprisingly, the downtown vacancy rate also held steady at 13.2%. Although leasing activity has leveled off to a solid (if unspectacular) pace during the first two quarters of 2012, the year-over-year trend in the downtown office market continues to be positive.
