Snapshots

Proximity to major retail gives boost to Chicago Class A product

In two out of the four submarkets, Class A product within a one mile radius of a major retail center is outperforming the competition.

February 25, 2019
Proximity to major retail gives boost to Chicago Class A product
  • In two out of the four submarkets, Class A product within a one mile radius of a major retail center is outperforming the competition. Eastern East-West occupancy is the highest around Oak Brook mall, indicating the strength of the market—a trend likely to continue with possible mixed-use projects in the development pipeline. 
  • North Cook County and O’Hare proximity to retail lag slightly behind due to lack of concentrated office supply around Old Orchard Mall and the Fashion Outlets.  
  • Northwest and Eastern East West proximity to retail outperforms overall and Class A occupancy rates—suggesting the need for the “urban oasis” developers are looking to build.

Source: JLL Research

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