Finding Equilibrium

Chicago’s downtown office market posted a steady quarter of demand during the first quarter of the year, reporting 166,064 square feet of positive net absorption, which drove the CBD’s vacancy rate down ten basis points to 12.2 percent. The slight decrease in the CBD’s vacancy rate highlights its current state of equilibrium between tenant demand and office supply, as Chicago’s vacancy rate sits a mere 20 basis points below the 12.4 percent vacancy rate posted in the first quarter of 2017.

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