From Kenosha County to Northside clusters, Chicago-area tenants may pass on properties with distance, transit burdens

Despite the Chicago industrial market posting more space completions than move-ins as 2024 comes to a close, the Windy City’s underlying demand metrics — namely its overall vacancy rate and square feet absorbed or net additional move-ins — reveal a market in balance, with overall vacancy below the metropolitan area's pre-pandemic, structural vacancy rate by approximately 300 basis points while absorbing approximately 5.8 million square feet by year's end.