Touring Chicago office tenants find discounts in the details, not in face asking rents
Of the five P’s in the marketing mix, ‘price’ and ‘painless’ renewals drive Chicago’s office leasing velocity
Since Chicago’s office market investors have learned from past recessions, they now often prefer to offer generous free rent and tenant improvement (TI) packages in lieu of lowerin...
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.
Manufacturing Job Growth in Chicago Swells Demand for Industrial Space
More Tenants Move Into Logistics and Manufacturing-Dedicated Properties Year Over Year
The Chicago area's employment base has grown, thanks to the expansion within traditional nonoffice employment sectors, including manufacturing.
Troubled Loans Backing Market-Rate Apartments Tick Up Across US
CMBS Woes in Houston and New York Appear the Most Noteworthy
In the world of commercial mortgage-backed securities, or CMBS, specifically those loans supporting market-rate multifamily properties and omitting affordable multifamily propertie...
Industrial Projects in Chicago’s Joliet Area Leasing Faster Than Competitors in Kenosha
Intermodal Infrastructure, Major Interstate Access Help Chicago’s Southwest Suburbs Outperform
Two areas in the Chicago region, Joliet and Kenosha East have led the market in industrial development in recent years with more than 15 million square feet of new logistics space ...
Workforce Housing Demand Remains Positive in Select US Markets, Bucking National Trend
Wide Gap Between High-End and Low-End Asking Rents Keep Workforce Renters in Place
Despite a national trend of declining occupancy and rents in workforce housing, three major U.S. multifamily markets, Chicago, Miami and San Francisco, demonstrate that an overall ...