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Suburbs hit the sweet spot in affordability

  • ​Suburban submarkets in close proximity to downtown and public transit access will remain more competitive. In addition, the continuous reinvestment by landlords into their Class A buildings provides tenants top-tier amenities with cost-effective space.
  • With downtown rents continuing to climb, the suburbs provide an affordable alternative for tenants looking in Chicago. In the past five years, Class A rents have increased 7.4 percent in the suburbs vs. more than 27.0 percent downtown. For example, North Cook County rents recently surpassed their previous 2007 peak, now asking $29.99 per square foot—still a discount compared to the downtown Class A market.
  • North Cook County and O’Hare are excellent options due to their close public transit, thus connecting talent in the suburbs and downtown. Both are strategically located near public transit and have successfully attracted tenants of all sizes: Caterpillar and Paylocity being two examples.​​

Source: JLL Research




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