Suburban Chicago office may be the tortoise, not the hare, from the old fable, but the market is steadily trending up with healthy fundamentals and tenant demand. More than 50 suburban business leaders joined JLL, the Schaumburg Business Association and the Federal Reserve Bank of Chicago, along with additional sponsors Andigo, the Village of Schaumburg, CP Apparel and Guaranteed Rate, last week to discuss the local commercial real estate climate and the impact of economic conditions on the Northwest suburbs.… Read More
Our Suburban Tenant Representation team recently hosted a webinar exploring how President Trump’s policy changes could impact suburban Chicago real estate.
“With vacancy near 10-year lows, strong tenant demand and robust investment activity, the suburbs continue to be a value story with as much as a $20 per square foot rent differential compared with downtown,” said JLL International Director Andrea Van Gelder.
As the new administration takes shape, the suburban market and its well-balanced economy could be affected in good, bad and surprising ways.… Read More
While today’s sensationalized headlines have led to some natural jitters across the suburban office landscape, a deeper dive into the numbers reveals a market on the rise and experiencing significant economic growth. More than 50 suburban business leaders joined JLL, the Schaumburg Business Association and the Federal Reserve Bank of Chicago, along with additional sponsors MECU and Rabine Group, last week to discuss the impact of global economic conditions on Schaumburg and the surrounding suburban submarkets.… Read More
The U.S. economy added another 113,000 jobs in January, representing a second consecutive month of below-average payroll growth. Unemployment fell by 10 basis points, reaching a recovery low of just 6.6 percent.
Although gains have not consistently met or exceeded the 200,000-job monthly threshold for sustained expansion, growth has been broadening in both industry and geography.… Read More