Changes in Chicago office availability haven’t been equal

Chicago market inventory chart displaying decades of when buildings were built, their respective total size in SF and their growth in available space since 2020.

While available office space continues to grow across the market, the largest amounts of availability lie in buildings constructed in the 1980’s and before 1960. Availability has dropped in newer buildings as many occupiers have chosen to move out of dated offices and into post-2010 construction. The biggest 3-year change in availability lies in ‘00s decade where added competition from newly-built office towers have increased what were once extremely low availability rates.

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