fbpx
November 2023

Hiffman Releases Single-Story Chicago Suburban Office Report

NAI Hiffman is pleased to present the Third Quarter 2023 Single-Story Chicago Suburban Office Report.

Single-Story Market Demand Accelerates in 2023

Chicago’s suburban single-story office has maintained strong fundamentals in 2023, with 830,562 square feet of new leasing activity year-to-date, up 8.5% from the same period in 2022.

Single-story Chicago suburban office

  • Chicago’s suburban single-story office has maintained strong fundamentals in 2023, with 830,562 square feet of new leasing activity year-to-date.
  • The market registered 8,559 square feet of positive net absorption during the third quarter, bringing the year-to-date total to 23,901 square feet.
  • At 15.9% overall vacancy, single-story product continues to outperform the overall suburban office market.

More information is available in the full Third Quarter 2023 Single-Story Office Report; click here to access the download.


Contact Us
For further information regarding the content of this construction report, please contact:

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

David Mathis
Research Analyst
630-389-8922
dmathis@hiffman.com

Steve Chrastka
Executive Vice President – Office Services
630-317-0746
schrastka@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.


Recent Blog Posts

News
Research
Hiffman Releases Year End Construction Pipeline Report
February 2024

Hiffman Releases Year End Construction Pipeline Report

Advisory Services
Capital Markets
News
Commercial Foreclosures Are Steadily Rising
February 2024

Commercial Foreclosures Are Steadily Rising

Brokerage
News
Research
NAI Hiffman expert predicts a strong new normal in Chicago’s industrial sector
February 2024

NAI Hiffman expert predicts a strong new normal in Chicago’s industrial sector