Q1/23 Downtown Chicago Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption levels turned negative to start the year, posting -1.8 million s.f. in Q1/23
  • Direct vacancy increased to 19.8%
  • The gross asking rate for the market is $42.89 p.s.f.
  • Sublet availability remained steady at 4.5% in Q1/23