Chicago downtown office insight - Q2 2018

Development activity remains robust around the city, with 6,635,341 s.f. underway, approximately 71% of which will deliver by year-end 2019. Deliveries this quarter range in occupancy levels/preleasing, from McDonald’s 608,000-s.f. fully occupied BTS in Fulton Market to the West Loop’s half leased 151 N Franklin with potential commitment for the rest of the building by a Bay Area tech firm to the 432,500-s.f. vacant 625 W Adams. Yet, market-wide vacancy slightly rose only to 12.0%, indicating strong office leasing.

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