Office Market Starts Year Strong in Suburbs, Slower Downtown

The Chicago suburban office market began 2015 with improved market fundamentals: 360,000 SF was absorbed during the quarter and the overall vacancy rate improved 37 basis points from year end 2014, to the current rate of 18.19%. The Chicago downtown office market experienced weakened market fundamentals: Negative net absorption during the first three months of 2015, totaling -126,000 SF and the overall vacancy rate increased 10 basis points from year-end 2014, ending first quarter at 12.04%. Watch the video below for more information.