Demand disparity: Financial services drive tenant requirements in Chicago CBD with tech and consulting to follow
- Active tenants in the market (TIMs) are currently seeking approximately 4.6 million square feet (msf) of office space across Chicago’s CBD. Companies in the financial services sector—including banking, finance, insurance, and real estate (FIRE)—represent the largest share, accounting for 48% of total demand at 2.2 msf.
- While FIRE companies lead in total demanded square feet, consulting, research, and accounting firms are pursuing the largest individual footprints. These organizations have an average requirement of 90,000 square feet (sf), well above market average. In contrast, biotech/life sciences, and nonprofits trail with average requirements of 42,000 sf and 27,000 sf, respectively.
- FIRE tenants also drive TIMs volume, making up 40% of active requirements. They are followed by the tech industry at 13% and law firms at 11%. This highlights a continued concentration of demand within traditionally office space-intensive industries.
Get market intel
US-IL-CHDWTN Chicago