Chicago Industrial Submarket Report – Q3 2021
Vacancies push lower as absorption surpasses previous year’s volume
- George Cutro
- Chad Buch
- Paul Marsh
Across the Chicago Industrial market, YTD net absorption stands at 27 MSF and we have already outpaced the 25 MSF posted last year. Vacancy is hovering in historically low territory at 4.4%. There are seven submarkets that are below 3.0% vacant representing extremely tight conditions for tenants. Occupiers needing a million square feet in Chicago have only one Class A option at this time.