After years of manufacturing woes, Chicago's South Shore clusters make a comeback through distribution
South Chicago, South Suburban and Indiana submarket clusters reap rewards after 20 years of reinvention labors
In a new twist, Chicago’s submarket clusters along the market’s most southern and southeastern shores — namely the Indiana, South Chicago and South Suburban areas — are 2024’s indu...
Step aside, Dallas. There is a new big bomber sheriff in town
Chicago is poised to take the number-one spot for construction of large-scale industrial sites over the next two years
Though Chicago still reigns as the nation’s largest industrial market in size and scope — at 1.4 billion square feet compared to second-place Dallas’ 1.2 billion-square-foot invent...
From Kenosha County to Northside clusters, Chicago-area tenants may pass on properties with distance, transit burdens
Chicago’s industrial submarket clusters with intermodal access barriers burdened with softened demand
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...
First in pain, the Second City office market suffers the most blows to its CMBS mortgage pool
Loans in the Loop represent almost 70% of the market’s 90-plus-day delinquencies
Of the U.S. office markets that carried over $1 billion of commercial mortgage-backed securities (CMBS) worth of debt by the end of October, Chicago stands out with over $1.4 billi...
Downtown Chicago’s office sublet vacancy rate has steadily dropped since late 2023
Though a clear sign the market is on the mend, direct lease expirations still cause overall vacancy rate to hit new high
Downtown Chicago’s office sublet vacancy rate fell to below its post-pandemic, four-year average during 2024’s second half, yet with the market's direct availability hitting a new ...
Midwest's tight apartment supply pushes its annual rent growth well above the US average
Chicago’s historically tight vacancy and build rates should preserve its rent growth momentum into 2025
With historically low vacancy and less supply-side pressure than its peers across the country, Chicago’s multifamily market should maintain its standing on the asking-rent-growth l...
Downtown Chicago office market participants speak about what touring tenants really want
Of the five P's in the marketing mix, 'place' generally beats 'property'
Yes, flight to quality is a real thing in the U.S. office market, and it can be true in downtown Chicago, too.
All that glitters is not gold — Chicago’s best-performing downtown offices are not always the shiniest
More two-star properties post tight overall availability rates than any other quality segment
Although downtown Chicago’s big move-in gains in its office market come from the area’s best-in-class inventory, frequently it’s the lower-tier properties — namely two- and three-s...
Manufacturing jobs blow into the Windy City as move-in rates tick up
On the docket, quantum computing
Chicago’s manufacturing space development and tenant year-over-year move-in gains since mid-2021 are steadily increasing as employment improves for this sector, according to the U....
Adjusted for inflation, Chicago’s downtown office market asking rents are down
In real dollars, asking rents free fall by almost 20% over 17 consecutive quarters
If one considers the purchasing power of today’s dollar and indexes its value to that of five years ago, Chicago’s downtown office market asking rents have been on a virtual downwa...
Chicago’s newest retailers lean into keeping us entertained
Whether it’s through play, dining, exercising or taking a class, Second City residents are getting out of the house
No matter how analysts slice the data, retailers with an experiential component continue to drive Chicago’s leasing velocity, scoring the most move-ins from 2023’s fourth quarter t...
Windy City retail market's favorite box types may surprise you
Power centers nab 20% of recent leasing, behind only general retail, neighborhood centers
Though Chicago’s overall retail market has remained in balance since the second half of 2021, two shopping center types — general retail and neighborhood centers — have recorded th...
Chicago’s downtown and urban industrial market tenants seem to herd toward older properties
Unlike their suburban peers, these occupiers choose location over building amenities and specs
Chicago’s downtown and nearby infill locations for industrial space buck the overall Windy City trend to prefer recently built properties over legacy ones — where older properties ...
Chicago’s newest industrial properties grab lion’s share of recent move-ins
While older facilities’ demand lags, their tight vacancy rates maintain their 'landlords’ market' status
Most of the Chicago industrial space market’s positive demand momentum comes from tenants moving into newly completed facilities, while older properties maintain their higher-than-...
COVID unmasked broken demand drivers in Chicago’s office nodes
Considered too big to thrive, monoculture office submarkets were doomed to decline post-2020
Most of Chicago’s large and monolithic office submarkets, whether downtown or in the suburbs, struggled in COVID-19’s aftermath, though there are some shoots of hope for some of th...
Small, Housing-Like Submarkets Drive Demand In Chicago’s Office Nodes
Diverse Office Ecosystems Sustain and Expand Their Move-In Rates Post-2020
By the end of 2024’s second quarter, 16 Chicago submarkets with embedded economic diversity each welcomed more tenant move-ins than it lost since the start of 2020’s second quarter...
Downtown Office Nodes Bear Brunt of Pullback in Demand
Central Business Districts With Little Economic Diversity Appear Most Vulnerable to Recent Changes
As one might expect given the high concentration of office space in Central Business Districts or CBDs, these locations have suffered the most in terms of the economic fallout sinc...
Many Midwest Apartment Markets Post Annual Rent Growth Above US Average
Historically Low Units Underway and Vacancy, Chicago’s Asking Rent Growth Most Likely to Last
With historically low vacancy and less supply-side pressure than its peers across the country, Chicago’s multifamily market should maintain its standing on the asking-rent-growth l...
Chicago’s Apartment Supply and Demand Remain Balanced Despite Risks
For Over 21 Months, Its Vacancy, Annual Rent Growth Outperform US Average
The realities of Chicago’s economic and political landscape — population losses, high taxes and entitlement fees, and fears of crime — may keep would-be investors away. But those w...
Chicago's Job Growth Stems Mostly From Nonoffice Sectors
Medical-Related Companies' Recent Expansions Boost Office Market Demand
Job expansion in traditional nonoffice employment sectors, such as health services, has helped to boost the Chicago area's employment base.