(To read more on the net lease market, click here.)

CHICAGO-For the third consecutive quarter, the Chicago CBDoffice market edged down in overall direct vacancy rate, reportsthe Chicago office of CB Richard Ellis. According to the company'sthird quarter 2006 statistics, direct vacancy fell to 14.2% from14.4% at second quarter and 15.1% during the first quarter.

While no new construction deliveries were reported during thethird quarter, the Downtown market saw the fourth consecutivequarter of positive net absorption at 162,198 sf. According toCBRE's estimates, this brings the year-to-date net absorption totalto 1.4 million sf, thanks to 562,414 sf in the first quarter and651,893 sf in the second quarter.

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