MB Real Estate is excited to release our Second Quarter 2010 Chicago Market Overview. The report tracks historical data, analyzes trends, and provides a comprehensive outlook for the Chicago Central Business District (CBD) and Suburban markets.
In the second quarter, Chicago’s CBD experienced roughly 130,000 square feet in negative absorption elevating its direct vacancy rate to 16.1 percent. In the Suburban market, the direct vacancy rate rose to 22.4 percent as a result of over 250,000 square feet in negative absorption. The Chicago Market Overview analyzes the job market, how it has impacted office demand, and how it will impact the office forecast. Click on the image below to view the report.
Also be sure to read our Second Quarter 2010 Chicago Submarket Snapshots, an in-depth analysis and review of the major events that took in each of the submarkets the MB Real Estate tracks. As expected, a majority of Chicago’s CBD and Suburban submarkets saw reduced leasing activity and decreases in occupancy. Click on the image below to learn about the performance of each submarket and the respective impact each had on the overall market.
Up Next: Chicago’s River North Submarket
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