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Year-End 2020 Suburban Chicago Office Market Report

Bradford Allen is pleased to share with you our Year-End 2020 Suburban Chicago Office Market Report.

This quarter in the suburban office market:

  • Year over year, the overall sublet availability rate increased from 1.94% to 2.99%.
  • From year-end 2019 to year-end 2020, direct vacancy and availability rose from 19.55% to 21.95% and 24.16% to 26.18%, respectively.
  • Overall, the direct asking rate was $24.86 p.s.f., a $0.17 p.s.f. decrease from mid-year 2020.

To read the full report, click here.

 

Q4/20 Downtown Chicago Office Market Report

Bradford Allen is pleased to share with you our Q4 2020 Downtown Chicago Office Market Report.

This quarter in the downtown office market:

  • The overall sublet availability rate doubled from 1.90% to 3.83%, year over year.
  • Quarter over quarter, direct availability and vacancy rose to 17.90% from 16.51% and to 11.98% from 10.86%, respectively.
  • Overall, gross average asking rates declined to $40.71 p.s.f. from $41.51, quarter over quarter.

To read the full report, click here.

 

Q3/20 Downtown Chicago Office Market Report

Bradford Allen is pleased to share with you our 2020 third quarter office market report.

This quarter in the downtown office market:

  • Direct net absorption was positive 150,562 s.f., posting a total of 303,703 year to date.
  • Year over year, direct availability rose from 14.02% to 16.51%.
  • Year over year, gross average asking rates dropped to $41.51 p.s.f. from $42.37 p.s.f.

To read the full report, click here.

 

Mid-Year 2020 Suburban Chicago Office Market Report

Bradford Allen is pleased to share with you our 2020 mid-year Chicago suburban office market report.

This quarter in the suburban office market:

  • Net absorption was positive 77,400 s.f. for the quarter but negative 422,822 s.f. at mid-year.
  • From year-end 2019 to mid-year 2020, availability rose 24.16% to 24.73% and direct vacancy rose 19.55% to 20.56%.
  • Overall, the direct asking rate was $25.03 p.s.f., a $0.30 p.s.f. increase since year-end 2020.

To read the full report, click here.

 

Q2/20 Downtown Chicago Office Market Report

Bradford Allen is pleased to share with you our 2020 second quarter Chicago office market report.

This quarter in the downtown office market:

  • Net absorption was negative 540,590 s.f. for the quarter and positive 153,141 s.f. for the year.
  • Quarter over quarter, direct availability rose to 15.71% from 14.69% and vacancy rose to 10.26% from 9.11%.
  • Overall, gross average asking rates declined to $41.49 p.s.f. from $42.18, quarter over quarter.

To read the full report, click here.