Starting in fourth quarter, the reports will provide greater insight into the current status and emerging trends in the suburban Chicago office market.
"Our primary goal was to eliminate geographical outlier properties that can skew the accuracy of reported numbers," Joel Berger, senior managing director with Bradford Allen, says in a press release. "As Chicagoland expanded outward over the last two decades, each of the suburban submarkets began to include more remote areas that are not necessarily relevant or meaningful."
Berger said that by creating a formula to eliminate the properties that skew the accuracy of the data, the new reports will offer more information that clients can use to make sound real estate decisions.
In addition to refining the database and adjusting for the most relevant properties, these new reports offer details on five new "micro-markets" within the four major submarkets. When clients now review each of the major suburban submarkets, they will be able to see detailed information on a much more granular and actionable level.
Bradford Allen is a Chicago-based national commercial real estate company provides brokerage services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations.