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United States | Chicago, IL

Report | Chicago CBD Office Insight - Q4 2015

Summary

Chicago's CBD office market is nearly back to its pre-2008 recession levels with leasing activity, space absorption and vacancy rates all remaining strong across a number of Windy City submarkets.

An especially good sign for the Chicago office market is the 1:1 absorption to construction ratio in the CBD in 2015—which has helped keep rents relatively steady even as demand rises.

River West (Fulton Market) has seen incredible 15.9 percent growth YTD—led by the occupancy of 1K Fulton and surrounding tech office properties. Rents in that submarket are now approaching levels seen in other more established areas, which we believe makes this a market to watch in 2016.

Learn more about what's happening—and what we expect to occur in the coming months—in Chicago's CBD office market in our Q4 US Office Insight.

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