Chicago Industrial Submarket Report – Q1 2022

First quarter 2022 absorption posts historic high!

May 02, 2022
  • George Cutro

Strong occupier demand drew vacancies down to 3.1% for the Chicago Metro area in Q1, falling 40 basis points from the 3.5% in Q4 2021. Net absorption for Chicago measured 8.1 million s.f., which was a roughly 2.0 million s.f. improvement when compared to the 6.0 million s.f registered during the same time last year.  Asking net rents posted a sizeable gain from the Q1 2021 rent of $5.39 net to $5.87 net.  Given the lower vacancy rate, rents continue to be heavily influenced by new speculative product introduced to the market.

Fill out this form to download report


Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your inquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.