"The Metro Chicago industrial market will remain weak throughmuch of 2010 as limited demand persists," the report states."Stronger economic conditions and improving consumer sentiment inthe latter stages of 2010 likely will boost demand for goods andresult in stronger market conditions in 2011."

Vacancy jumped to 11.8% by the end of the year, slightlyincreasing from 11.2% in the third quarter and 9.7% at the end of2008. Leasing wasn't the only significant decline in 2009.Industrial investment sales totaled $312 million for the year, adecline from $1.2 billion in 2008. Sale prices averaged $49 persquare foot.

The Chicago industrial market saw a negative 5.6 million squarefeet of net absorption during the fourth quarter, while negativenet absorption for the entire year was 15.9 million square feet.This total is a significant difference from the positive sixmillion square feet of absorption during 2008.