Bradford Allen is pleased to share with you our 2020 second quarter Chicago office market report.
This quarter in the downtown office market:
- Net absorption was negative 540,590 s.f. for the quarter and positive 153,141 s.f. for the year.
- Quarter over quarter, direct availability rose to 15.71% from 14.69% and vacancy rose to 10.26% from 9.11%.
- Overall, gross average asking rates declined to $41.49 p.s.f. from $42.18, quarter over quarter.
To read the full report, click here.