Monthly Archives: December 2010

Fourth Quarter 2010 Chicago Downtown Office Market Report

Year-end conditions show mixed results, but signs are pointing to a slow recovery

The commercial office market in Chicago’s central business district (CBD) appears to have bottomed out in 2010. The overall annual net absorption rate (the net change in occupied space) and increased sales activity seem to indicate a slowly reviving market. Annual net absorption turned slightly positive in 2010 in contrast to the over 2.3 million SF of negative net absorption recorded at the end of 2009.

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Fourth Quarter 2010 Chicago Suburban Office Market Report

Despite sluggish leasing market, market fundamentals show signs of stabilization

The Chicago suburban office market appears to have reached its bottom in 2010.  The overall annual net absorption (the net change in occupied space) and the year-to-date leasing activity seem to indicate that the market has begun to slowly recover.  Annual net absorption was essentially flat in 2010, but still a clear reversal of the downward trend experienced in 2009, when the year ended with over 2.3 million square feet of negative net absorption.

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