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CBD Vacancy Rates Hold Steady


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%.