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First Quarter 2015 Chicago Downtown Office Market Report

Downtown Market Experiences a Slight Uptick in Vacancy; Still an Overall Positive Tone

Chicago’s downtown office market saw the vacancy rate increase this quarter for the first time since 2013. The slight increase from 13.1% in Q4 2014 to 13.3% was attributable to the BMO Harris relocation/contraction and downsizing of showroom tenants at 311 W. Monroe and the Merchandise Mart, respectively. Please note however the vacancy rate of 13.3% is well below the 14.0% in Q1 2014.

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