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The RENT blog gives you the resources and tools you need to make the best decisions regarding your real estate needs. We cover a broad range of subjects regarding office space, tenant needs and what to look for when investing in property.
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Chicagoland Office Construction UpdateWriting with an update on the Chicagoland office market. Downtown Class A offices command a 75 percent rent premium over suburban Class A offices. But new construction, coupled with softening demand, will depress downtown office rents and sale prices in the short...
Chicagoland Suburban Office and Medical Office Update
About a third of new suburban office properties are medical, as the aging suburban population requires additional healthcare resources. Illinois has so far reported relatively few layoffs in the healthcare industry, suggesting that medical office tenants may be better positioned to survive a COVID 19 induced...
Chicagoland Commercial Office Market and Construction Update
Even before social distancing measures were enacted, Chicago office rents grew at their slowest pace in five years in 20Q1. This continued the trend of slower rent growth and higher vacancy in 2019, due to 4.4 million square feet in new office...
Record High Chicago Office Space Vacancies Bring Value and Concessions
The Chicago office market has reached a record high for available sublease space, as tenants look to shed office space in response to the Coronavirus Pandemic. Office sublease space has increased nearly 22 percent since the start of the pandemic, with 8.2 million SF now...
Chicagoland Office Market Update
Social distancing measures have resulted in a dramatic downshift in office leasing, sales, and development activity. Average office vacancy should temporarily increase by 1% due to lower demand and unfortunately timed development projects. That said, average vacancy in 2020 should remain under 13 percent for the year the seventh year in a...
Choosing the Right Office Space
When choosing the right office space for your business there are important considerations to initially address before you lease or purchase your property. In this first part, we outline a few of the important factors to consider.
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