Among other things, the report finds:
– Retail property prices got off to a strong start in 2001, withshopping center averaging more than $80 per sf in metro Chicago. Sofar this year, properties have sold at an average of $89 per sf,with first quarter 2001 numbers even higher, $95 per sf.
– Retail construction will drip slightly in the next 12 months,in response to stringent underwriting standards. Retailconstruction in the Chicago area reached its highest level since1997 last year, with more than 4.5 million sf coming on line in2000.
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