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September 2023

REmark – Chicagoland Office Leasing Activity

Chicago Office Leasing

The COVID-19 pandemic and the rise of hybrid work created a major shift in the dynamics between urban and suburban office markets.

Over the last three years, Chicago’s suburban office market has frequently outperformed the CBD.

While both markets experienced significant decreases in leasing at the onset of the pandemic, the suburban downturn was less precipitous, and led to the suburbs seeing a lessened impact overall compared to downtown.

For more information, please contact:

Nick Schlanger
Research Director
630-691-0600
nschlanger@hiffman.com


 

About NAI Hiffman:

NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is an award winning company headquartered in suburban Chicago, with more than 250 employees strategically located throughout North America.

About Hiffman National:

Hiffman National is one of the US’s largest independent commercial real estate property management firms, providing institutional and private clients exceptional customized solutions for property management, project management, property accounting, lease administration, marketing, and research. The firm’s comprehensive property management platform and attentive approach to service contribute to successful life-long relationships and client satisfaction. As a nationally bestowed Top Workplace, and recognized CRE award winner, Hiffman National is headquartered in suburban Chicago, with more than 250 employees nationally and an additional six hub locations and 25 satellite offices across North America.

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