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Fourth Quarter 2010 Chicago Downtown Office Market Report

Year-end conditions show mixed results, but signs areĀ pointing to a slow recovery

The commercial office market in Chicago’s central business district (CBD) appears to have bottomed out in 2010. The overall annual net absorption rate (the net change in occupied space) and increased sales activity seem to indicate a slowly reviving market. Annual net absorption turned slightly positive in 2010 in contrast to the over 2.3 million SF of negative net absorption recorded at the end of 2009.

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