The Chicago industrial market is nearing all-time lows, with negative 1.8m-SF of absorption and 10.9% vacancy, according to the Mid-Year Metropolitan Chicago Industrial Report Transwestern just released. The good news is that the market is correcting itself with just 1.3m-SF under construction now versus 10.4m-SF at this time last year. (One of the biggest deals of the quarter was the 215k-SF lease along I-55 for Sanyo Logistics by ProLogis, above.) Transwestern predicts vacancy will continue to rise into the low 12 percents over the next 18 months. Good news... if you're a tenant. |
Industrial Injury
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Mike Martin
, Paulding County
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