Fourth Quarter 2010 Chicago Suburban Office Market Report

Despite sluggish leasing market, market fundamentals show signs of stabilization

The Chicago suburban office market appears to have reached its bottom in 2010.  The overall annual net absorption (the net change in occupied space) and the year-to-date leasing activity seem to indicate that the market has begun to slowly recover.  Annual net absorption was essentially flat in 2010, but still a clear reversal of the downward trend experienced in 2009, when the year ended with over 2.3 million square feet of negative net absorption.

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