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To See How the US Office Sector Is Changing, Check Out Chicago’s Rising Vacancy Levels

Savills’ Goodman Expects Flood of Space To Hit the Market as Tenants Rethink Needs and Fish for Better Deals

“Vacancy rates will go up more over the next 12 months,” Savills’ John Goodman said of the downtown Chicago office market. (CoStar)
“Vacancy rates will go up more over the next 12 months,” Savills’ John Goodman said of the downtown Chicago office market. (CoStar)

Companies in cities across the United States are prepping employees for a return to the office even as corporate workspace is shrinking. Chicago, one of the largest markets, is no exception as businesses put offices on the market in a pandemic move that could push down lease rates for the foreseeable future.

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