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Suburban Chicago Office Market Showing Little Movement

Colliers states in its report that Class A vacancy in the suburbs also remained flat at 22.0%. However, when considering high quality, trophy assets in the suburban office market, vacancy was considerably lower at 16.5%, dropping 150 basis points from the same time period two years earlier.

The overall vacancy rate for the suburban Chicago market stood at 21.5%, according to Colliers Research. The overall vacancy rate for the suburban Chicago market in the second quarter of this year stood at 21.5%, according to Colliers Research.

CHICAGO—The latest statistics on the performance of the suburban Chicago office market by commercial brokerage firm Colliers International look strikingly similar to those recorded three months ago and in some cases two years ago.

While the data could lend some to have a slight case of déjà vu, the market is seeing consistent leasing and investment activity and a marked increase in office space absorption in some key markets.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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