Q1/18 Downtown Chicago Office Market Report

The first quarter began with a plethora of positive economic and confidence indicators for Chicago and the nation (see box below), including Site Selection magazine choosing Chicago for the fifth year in a row as the top metro for potential corporate growth. These all point to a continuing demand for office space acquisition and expansion. The question remains, however, does the current and pending demand for office space necessitate the supply of the one million square feet added over the course of 2017 and the pending three to five million square feet projected to deliver to the urban core over the next three years?


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