For now, the best submarkets are North Michigan Avenue, where vacancy began the year at 8.3%; as well as the South Loop, which checks in at 8.96%. When sublease space is factored in, the South Loop posts the best vacancy rate at 10.09%.
At the other end of the spectrum, vacancy in the western end of the East-West Corridor rose from 20.08% to 25.4% last year. When sublease space is considered, vacancy in the submarket is 33%.
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