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United States | Chicago, IL

Report | Suburban Chicago office: Thinking outside the box

Summary

The total rentable inventory of suburban Chicago office properties is approximately 96.8 million square feet. At the current overall vacancy rate of 18.9%, the Chicago suburbs have 18.3 million square feet of empty office space.

However, while all submarkets have varying supply and demand patterns, vacancy in the Chicago suburbs is significantly concentrated in a specific subset of properties that are functionally obsolete; skewing the overall market statistics. 

What is the “true” vacancy in the suburbs and what should investors do to help reposition their assets?​

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