NAI Hiffman Office Market Peek: 4th Quarter, 2015

The Chicago suburban office market totaled 186,000 SF of net absorption during the quarter, improving the 2015 total to 877,000 SF. The vacancy rate declined to 17.74%, an 80 basis point improvement from the vacancy rate of 18.56% recorded one year ago. The CBD office market posted 592,000 SF of positive net absorption during the quarter, boosting the 2015 total figure to 982,000 SF. The vacancy rate decreased to 11.11% which is just over 80 basis points lower compared the vacancy rate of 11.94% measured one year ago.