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chicago downtown (2) Year-to-date absorption hit 2.1 million square feet, sending the vacancy rate down 40 bps to 17.4%, the lowest rate of the year.

CHICAGO—As reported in GlobeSt.com, the Chicago region’s industrial market has slowed down a bit, and it looks like the office market may also tap the brakes in 2018 as well. According to a fourth quarter report from Newmark Knight Frank, year-to-date absorption hit 2.1 million square feet, sending the vacancy rate down 40 bps to 17.4%, the lowest rate of the year. And rental rates went up 1.1% to $27.47. But NKF also says other trends are becoming visible.

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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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