Year-End 2022 Chicago Suburbs Office Market Report

Bradford Allen is pleased to share with you our latest office market report.

This half in the suburban office market:

  • Absorption levels improved but remained negative at -250,000 s.f. in the back half of 2022
  • Direct vacancy rate remained steady at 28.9%
  • The gross asking rate for the market is $26.22 p.s.f.
  • Sublet availability slightly decreased to 4.1%

 

Q4/22 Downtown Chicago Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption levels turned negative to end the year, posting -600,000 s.f. in Q4/22
  • Direct vacancy increased to 18.9%
  • The gross asking rate for the market is $42.64 p.s.f.
  • Sublet availability remained relatively unchanged at 4.2%

 

Q3/22 Downtown Chicago Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption levels turned positive for the first time this year at 221,780 s.f. for Q3
  • Direct vacancy remained relatively unchanged at 18.3%
  • The gross asking rate for the market is $43.94 p.s.f.
  • Sublet availability remained steady at 4.3%

 

Mid-Year 2022 Chicago Suburbs Office Market Report

Bradford Allen is pleased to share with you our latest office market report.

This half in the suburban office market:

  • Absorption levels improved but remained negative at -350,000 s.f. for Q2
  • Direct vacancy increased to 28.6%
  • The gross asking rate for the market is $25.42 p.s.f.
  • Sublet availability remained steady at 4.3%

 

Q2/22 Downtown Chicago Office Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption levels improved but remained negative at -300,000 s.f. for Q2
  • Direct vacancy increased to 18.4%
  • The gross asking rate for the market is $42.87 p.s.f.
  • Sublet availability slightly increased from 3.9% in Q1 to 4.1% in Q2