CHICAGO—The Chicago office market posted a solid performance inthe fourth quarter with an uptick in absorption and falling vacancywhile rents held firm, according to a new report fromColliers International. Net absorption totaled488,960 square feet, and River North, at 7.1%, has by far thelowest vacancy rate of the four downtown submarkets. Overall marketvacancy stands at 11.6%.
Like most of the nation's top markets, tech remains an importantdriver of demand in Chicago. In fact, it has helped ease the painof many landlords that lost tenants to the West Loop's new trophytowers.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
