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February 2017

REmark: Measuring Up: The Size of Post-Recession Office Absorption

Chicago’s suburban office market is nearing pre-recession levels of vacancy. To provide a better understanding of the massive amount of SF that has been absorbed following the economic slump, our latest REmark dives into the numbers and puts them into a more tangible measurement.

From 4Q 2007 to 4Q 2009, 6.2 M SF of vacant space was added to the Chicago suburban market. From 4Q 2009 to the end of 2016, 4.3 M SF of that vacant SF has been absorbed—that’s 100 acres! Since 4Q 2009, 41.5% of buildings in the Chicago market have decreased their vacancy levels and 24.0% have stayed the same.

To learn more, contact:

Amanda Ortiz
Director of Research
630 693 0645
aortiz@hiffman.com.

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