Finishing Strong

Chicago's downtown office market posted another strong quarter of demand during the fourth quarter of the year, reporting 595,438 square feet of positive net absorption, which drove the CBD's vacancy rate down 40 basis points to 12.3 percent. At 12.3 percent, the CBD's vacancy rate sits 110 basis points above the lowest vacancy rate posted during this cycle 15 months ago, as the delivery of 2.6 million square feet over the past 13 months has offset 818,136 square feet of positive net absorption over the same period.

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