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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.

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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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