CBD Downturn: Have We Hit Bottom?
Market turnaround expected to take place in 2011
New Construction Adds to Increase of Available Space
Overall availability in the Chicago Central Business District (CBD) rose to 17.8% at year-end 2009, a 6.4 percentage point increase compared to the same time last year, marking the highest percentage available in four and a half years. Availability in the River North submarket increased 6.8 percentage points in 2009. This was the largest jump in a CBD submarket with a large portion resulting from the completion of 300 North LaSalle Street and 353 North Clark Street during the year.
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