The office market in suburban Chicago saw vacancy increase in the second quarter, according to new research by Savills Studley, and tenants can expect to remain in control as landlords should continue to offer generous concession packages.
The overall availability rate hit 23.6%, an increase of 40 bps for the quarter, and class A space increased 70 bps to 25.3%. Furthermore, the rate could be set to increase. “Leasing activity lacks consistency across Suburban Chicago and cannot keep up with the continued space reductions by major employers,” the report notes...Suburban Office Vacancy Rising
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