Tag Archives: O’Hare

Retail therapy draws tenants to suburban Class A product

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Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.

Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Woodfield Mall appears to be flagging, JLL Research attributes that to Zurich’s relocation and expects occupancy to soon mirror the strength of its peers.

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O’Hare submarket cleared for takeoff

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Author: Ryan Emerick
O'Hare submarket

While much of the local spotlight has focused on the migration of large firms from the suburbs to the urban core, downtown is not the only thriving submarket. Strong tenant demand has also sparked a dwindling supply of office space in the O’Hare submarket. Vacancy rates near O’Hare have dropped from a high of 26.9 percent to 16.4 percent and are now at their lowest levels since 2000.… Read More

Building from the Ground Up: Industrial Spec Spotlight

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industrial spec

Last year set some modern-day records for the Chicago industrial market, including a new high water mark for net absorption at 19.1 million square feet. With vacancy under 7 percent for the first time since 2001, JLL brought together its top industrial clients to discuss what’s next. The word of the day is spec, said JLL’s George Cutro, Director of Midwest Industrial Research. It’s 70 percent of the market’s development pipeline and returning to levels last seen in 2007.… Read More

Airline caterers cooking up new facilities near O’Hare

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O’Hare International hosted 70 million passengers last year, making the world’s busiest airport a golden opportunity for the $4.7 billion airline catering industry. Four growing airline caterers, whose new facilities total 370,000 square feet, are enjoying the benefits of O’Hare’s orbit:… Read More