suburban

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 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

Indicators Show Bottom Is NearCertain micro-markets begin to show turnaround Vacancy Continues to RiseOverall vacancy in the suburban market rose to 24.0% in the first quarter of 2010, a 2.6 percentage point increase compared to the same time in 2009 and a 0.3 percentage point rise since year-end 2009. The North Suburbs has been hit … Read more

Market Downturn Creates Opportunities for TenantsSuburban market downturn likely to last through 2010 Year-End Vacancy Highest of DecadeOverall vacancy in the suburban market rose to 17.7% in the fourth quarter of 2009, a 1.9 percentage point increase compared to the same time in 2008. The Northwest Suburbs submarket was hit the hardest, measuring a 3.1 … Read more

A Slow Road to Recovery in the SuburbsWith available space at an all time record, office space bargains are everywhere.  Vacancy is likely to rise slightly over the next few quarters during the recovery. Rental Rates Hold SteadyAsking rental rates in the suburban market have held nearly even with last quarters’ rates. The second quarter … Read more

Market Continues to DeclineRental rates continue to drop, and vacancies are increasing at a faster rate. With no signs of recovery before 2010, landlords offer larger concessions. Rental Rates Are DroppingAsking rental rates in all suburban submarkets continue to drop as Landlord’s adjust to the new economic climate and compete against the growing flood of … Read more