X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
chi-SchaumburgTowers_Exterior (2) The Skokie, IL-based American Landmark Properties recently acquired Schaumburg Towers, an 882,071-square-foot class A office property located at 1400 and 1450 American Ln. in Schaumburg, IL.

CHICAGO—The Downtown Chicago office market continues to soar, but some suburban areas are also benefitting as job growth fuels demand. In fact, although portions of the suburbs are improving quicker than others, overall suburban vacancy declined in the first half of 2018.

Leasing volume in the suburban office market improved in the second quarter of 2018, as vacancy dropped to 19.9% from 20.4% in the first quarter, according to a new report out from Colliers International. It has also showed an improvement from mid-year 2017’s overall vacancy rate of 20.8%. The first half of 2018 ended with 43,889 square feet of positive year-to-date net absorption, compared to negative 196,808 square feet of negative net absorption reported during the first half of 2017.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.