July 2021 Market Update
Office leasing is still at 70% of pre-pandemic levels; demand should recover in early 2022. The total number of leases signed is now close to pre-pandemic levels, but fewer tenants are leasing large blocks of space. Chicago saw a reduction in office sublease space in the second quarter. Office investment activity is about half of […]
June 2021 Market Update
Demand for office space in Chicago has increased by 150% since the beginning of the year, but demand is still 20% below its 2018-2019 average. One in four are back to working at the office in Chicagoland; one in three are now working from the office nationally. Office space available for sublease has roughly doubled […]
May 2021 Market Update
Most CEOs report that their employees will return to the office by fall 2021. But the increased pace of vaccinations has not yet led to a meaningful return to regular office usage, with only 22.5% working at the office. That said, leading indicators in the last quarter suggest we will see a significant return to […]
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