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Monthly Archives: September 2011

Third Quarter 2011 Chicago Downtown Office Market Report

Downtown Chicago office market recovery continues, but it’s a slow and uneven climb

Despite the spate of disappointing leading economic indicators and persistently high unemployment, the Chicago office market appears to be moving in the right direction, albeit slowly. The overall availability rate in Chicago’s central business district (CBD) remains elevated at 18.4%, but there are some other important statistical measures that offer reasons for cautious optimism.

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Third Quarter 2011 Chicago Suburban Office Market Report

Status quo for the Suburban Chicago office market

The third quarter served up more of the same for the suburban Chicago office market. That’s not necessarily all bad news, but the move back to equilibrium looks to be progressing at a glacial pace. The overall availability rate has shown little fluctuation throughout 2011 and ended the third quarter at 27.3%. The direct vacancy rate actually inched back up slightly to 24.6% from 24.2% at mid-year.

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