May 2014 saw some improvements in the consumer confidence level as well as in retail sales. Per the National Retail Federation May's seasonally adjusted month-to-month retail sales were unchanged; though unadjusted month-to-month year-over-year retail sales rose 3.0%.
May's sales in retail categories such as building supply stores, furniture stores and non-store retailers, including online sales were strong. In April 2014, the Conference Board's Consumer Confidence Index decreased to 81.7, but in May, it ended at 83.0. For a stable economy a reading over 90 points is required and 100 points or more indicates a strong growing economy.
For the 2nd quarter of 2014, Chicago's retail market ended with a vacancy rate decrease of 0.3% going from 10.4% in the 1st quarter to 10.1%. Compared to one year ago it has increased 130 basis points.
Most of this is due to the 82 Dominick's that have closed within the market. Fortunately, these spaces are slowly being absorbed by such retailers as Mariano's, Jewel and Whole Foods.
Far N.W. Suburbs
Far North Suburbs
Far West Suburbs
Far S.W. Suburbs
Gross Bldg SF
Average Asking Net PSF
Retail Rental Rates have seen a slight increase in most Chicago Suburban Markets