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Office Insight

United States | Chicago, IL

Report | Chicago CBD Office Insight - Q4 2016

Summary

Demand for space in Downtown Chicago didn't let up in 2016. 20 leases of more than 100,000 square feet were signed in the CBD, up from 14 in 2015. 

A significant portion of the year's overall leasing activity came courtesy of tech companies and law firms backfilling shadow space and preleasing new developments.

Given this strong demand and high construction costs, tenants needing to expand may find sublease space the best deal for them going forward. Through Q4 2016, 3.4 million square feet of sublease space remained available, including plenty of options in the 15,000-30,000 square foot range.

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