Leasing activity across the Chicago Industrial market continues to surpass the rapid pace of new developments

Chart compares Chicago industrial leasing activity versus construction activity
  • Despite over 95.0 msf of new product being added since 2020, nearly every submarket has experienced a contraction in vacancy over the same period.
  • While I-80 and South I-55 Corridors boast some of the highest levels of new product, they have also witnessed some of the most notable declines in vacancy rates throughout the Chicago market.
  • The tightness of these two submarkets have pushed excessive demand into neighboring Central DuPage, I-57 and I-88 Corridors. This increased demand, coupled with limited new supply, has pushed down vacancy rates considerably.

September 21, 2023

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