Chicago’s suburban office market ends 2015 on a positive note with decreased vacancy and positive net absorption.
In the second quarter of 2014 the Chicago retail market is still experiencing a hit due to the closing of Dominick’s grocer in the market. Though consumer confidence remains strong and improving it is still taking time for the market to feel the full effects.
2013 ended statistically strong despite the fourth quarter being slower than the previous three quarters. Quarter four of 2013 found direct vacancy rise, lease rates rise and net absorption reduce.
Into the second month of 2014, time to reflect on how the year ended in the Chicago area retail market. The Fourth quarter 2013 recap of the retail leasing activity for the Suburban Chicago market.
Third quarter 2013 recap of the retail leasing activity for the Suburban Chicago market.
For the year 2013, the first three quarters have seen a positive net absorption and steady reduction in vacancy rates throughout the suburban Chicago office market. Unfortunately, leasing activity has slowed down lowering optimism that vacancies will continue to decline.