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Third Quarter 2018 Chicago Downtown Office Market Report

The buoyancy of Chicago’s downtown office market continues into the third quarter with a positive absorption of over a quarter million square feet, totaling over two million square feet absorbed in 2018. In addition, year over year, direct availability dropped from 14.99% to 14.11% and direct vacancy dropped from 12.03% to 11.68% while direct asking rents increased from $38.68psf to $40.16psf, a new high-record asking rate.

 

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