Landlords in Chicago’s suburbs struggled to fill space once again last quarter, as tenants in the market continued to enjoy historically low rental rates and a wide variety of options.
According to JLL Research, overall vacancy in the ‘burbs remained flat at 24.4 percent in Q2, the same percentage as in Q1 and a year earlier.
As JLL’s Eric Kunkel told Crain’s Chicago Business in this recent story, leasing activity continue to lag behind the gradually but steadily improving downtown market:
“Right now it’s just trading places … there’s not a lot of true absorption. My feeling is that we’re going to stay flat or maybe even trend down a little bit (for landlords) until we get some job growth in the market.”