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Office Insight

United States | Chicago, IL

Report | Chicago Suburbs Office Insight - Q1 2017

Summary

Several expected move-outs pushed suburban quarterly absorption into negative territory to start the year. But the outlook for the rest of 2017 is promising.

Sales activity was slow in Q1 as investors took a more cautious approach. Look for that to change throughout the rest of the year as investors seek greater returns outside of major markets.​

Leasing activity was primarily focused on the midsize market. 20,000-50,000-square-foot leases were the most consistently seen during the quarter. Tenants were able to capitalize on favorable economics, despite minor rent increases across most submarkets.

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