Research
Chicago Industrial Submarket Report – Q4 2022
Absorption below 2021 but still second strongest year on record
January 30, 2023
Contributors:
- George Cutro
- Chad Buch
- Paul Marsh
Q4 leasing volume measured 8.7 million s.f., the smallest quarterly output in 2022. Despite this, over-all 2022 volume reached 49.6 million s.f. - the second largest annual volume ever! Big box users experienced the largest increase in demand as 7 leases were signed in 2022, almost double the 5-year average of 4 transactions.