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CHICAGO-While it’s true that both occupancy and rents continued to drop in the second quarter 2010, researchers at Marcus & Millichap said in their recent market report that the losses have slowed considerably. Sprinkle in 0.2% job growth and add a dash of renewed interest, and the Chicago retail market might have the making of a comeback starting in the fourth quarter, the company officials said.

Single-tenant, net-leased retail assets have seen almost constant interest, as retail investors have decided that is the only trustworthy property, says John Przbyla, first vice president at the Chicago office. “With national credit properties, you’re looking at high seven cap rates to mid-eight cap rates,” he says.

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