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chicago downtown (2) The vacancy rate for the Chicago CBD’s top office properties just sank to 11.1%, according to MBRE.

CHICAGO—The strong leasing activity at the CBD’s newest office towers helped significantly decrease the direct vacancy rate among the city’s top properties for the first time since the third quarter of 2016, according to MBRE. The company publishes a quarterly survey of the last 30 class A downtown office buildings constructed greater than 400,000 square feet, a group that serves as a leading indicator of office market conditions.

Direct vacancy in these towers decreased by 98 bps to 11.1% percent. Meanwhile, the CBD direct vacancy rate decreased to 11.9% at the end of the first quarter of 2018, a 40 bp decrease from the end of 2017.

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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.

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