Chicago CBD Forges Ahead

CHICAGO—One week before AT&T decided to move an additional 500 jobs from the suburbs to the CBD, the Chicago office of Colliers International published its study on the CBD’s office market for the second quarter. The researchers found that while the CBD had experienced a modest improvement, the outlook for long-term growth was even more encouraging, and a key explanation was the migration of high-tech jobs, similar to those provided by AT&T, into the downtown as companies hunt for employees who want an urban lifestyle.

Furthermore, the CBD has a “growing reputation as a new launching pad for technology start-ups,” Colliers notes. The newcomers “are gaining footing in the CBD through support provided by incubators that offer resources and physical space until the companies are able to graduate to their own location.”