The downtown Chicago office market recorded record-high rents and vacancies at or near all-time lows in 2016. The city is a robust tech hub, bolstered by an extensive transportation network and proximity to one of the busiest airports in the world—connecting Chicago with other U.S. and foreign markets. Unemployment continues to diminish as graduates from nearby top-tier universities enter the local workforce in a diversified economy. Despite this economic growth, the City of Chicago and the State of Illinois continue to grapple with the budget crisis.… Read More
Categories: Brokerage, Downtown, Jones Lang LaSalle, Office Leasing, Research and tagged budget, City Hall, David Barnett, deficit, Fitch Ratings, Hailey Harrington, headquarters, policy, property taxes, Springfield, tech, technology, transit, transportation.