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Monthly Archives: January 2020

Year-End 2019 Suburban Chicago Office Market Report

This year in the suburban office market:

  • Net absorption was positive 331,551 square feet for the quarter, but negative 516,840 square feet for the year.  
  • From mid-year to year-end, direct availability dropped from 25.11% to 24.16%, while direct vacancy rose from 19.16% to 19.55
  • Overall, the direct asking rate was $24.73 p.s.f.  

To read the full report, click here.

 

Q4/19 Downtown Chicago Office Market Report

Bradford Allen is pleased to share our Q4/19 office market reports. This quarter, in the downtown office market:

This quarter in the downtown office market:

  • Net absorption was positive 1.12 million square feet for the quarter and positive 2.32 million square feet for the year.   
  • Quarter over quarter, direct availability rose to 14.35% from 14.02% and the direct vacancy rose to 9.49% from 9.3%.
  •  Year over year, gross average asking rates climbed to $41.25 p.s.f. from $40.51 p.s.f.

To read the full report, click here.