CBD Vacancy Rates Hold Steady

Andrew Horne/Wikimedia Commons

Good news for the Loop's office vacancy rates. Direct vacancy in the CBD on MB Real Estate's index held steady for the fifth straight quarter at 10.7%. The index looks at vacancy rates for the District's 30 newest Class-A buildings and the numbers are a sign trophy space demand has grown and vacancy rates have returned to pre-recession levels. There are some exceptions on the list: 515 N State St continues to struggle from the loss of the American Medical Association as a tenant. The top nine floors of (231k SF) 500 W Monroe are still empty and 525 W Van Buren has seen 25% vacancy rate for four years. Overall vacancy rates in the CBD rose slightly to 13.55%.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office

Rates, Rents And AI Risks: Peter Linneman's Warning For CRE

Heitman, Andover Target Self-Storage With New Investment JV

Interest Rate Hike Douses Outlook For Atlanta Developers

The Bridge-To-Bridge Bet Is Holding Off CRE's 'Day Of Reckoning' — For Now

Chicago Office Deals Feature More Scrutiny, Added Tenant Protections

HUD Launches Investigation Into Wells Fargo's Efforts To Support Black Homeownership

Delaware Statutory Trust Fundraising Jumps 27% From 2025

Bank OZK Shares Drop After Citi Flags $915M Mortgage Concern

Local Investor Pays $30M For Block 37 In Heart Of Downtown Chicago

Activist Investor Buys Stake In Empire State Building Owner

Soaring Yields Strand REITs In M&A No-Man's-Land