Chicago Industrial Submarket Report – Q4 2022

Absorption below 2021 but still second strongest year on record

January 30, 2023
  • 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.

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