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CHICAGO-Retail is still in a downward spiral in the Chicago area, with occupancy, rents and employment all dropping, according to a third quarter report by Marcus & Millichap. However, the velocity of the fall has slowed, and national chains, both new and established, are looking to get into the third largest US market.

Vacancy will increase to almost 12% by the end of the year, led by low occupancy in the suburbs. Employment dropped by about 14,000 jobs, though gains made in the first half should still allow the year to be on the positive side, if only slightly, compared to the roughly 234,000 jobs lost in the Chicagoland area.

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