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Chicago Commercial Real Estate

The Not-so-bad News

Even though the CBD shed 190k jobs in the last year, and its vacancy rate increased 40 basis points to 14.4%, there was only 403k-SF of negative absorption over the second quarter, according to Transwestern's quarterly reports. Transwestern's Tamara Kos says it's not as bad as it sounds, since the area added 1.1m-SF of space with the completion of 155 N. Wacker, above, which opened 77% occupied. After next quarter, there will be no new multi-tenant office building deliveries until at least 2012, Tamara says.

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