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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.

 

Q1/20 Downtown Chicago Office Market Report

Bradford Allen is pleased to share our Q1/20 Downtown Chicago Office Market Report.

This quarter in the downtown office market:

  • Direct net absorption was positive 693,731 s.f.
  • Year over year, direct availability rose from 13.90% to 14.69%.
  • Year over year, direct average asking rates climbed to $42.18 from $41.42.

To read the full report, click here.

 

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.