Indicators Show Bottom Is Near
Certain micro-markets begin to show turnaround
Vacancy Continues to Rise
Overall vacancy in the suburban market rose to 24.0% in the first quarter of 2010, a 2.6 percentage point increase compared to the same time in 2009 and a 0.3 percentage point rise since year-end 2009. The North Suburbs has been hit the hardest over the last year, measuring a 5.7 percentage point increase to 21.9% when compared to first quarter 2009. Meanwhile, the Northwest Suburbs has fared the best with a modest gain in vacancy, increasing 1.9 percentage points to 26.1% when compared to first quarter 2009.
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