MBRE: Suburbs Still a Destination

CHICAGO—The well-publicized migration of many firms into the CBD, especially hot neighborhoods like River North and the West Loop, can obscure the importance of the suburban real estate to many Chicago-area corporations, according to the November market report by MB Real Estate. And some investors apparently believe that even though the economic collapse may have left many suburban properties with high vacancies, underlying fundamentals may help return many to health.

The firm cites a recent study by the Brookings Institution that found that in the Chicago area “68.7% of the jobs are located more than 10 miles from the CBD making it the second most decentralized city in America behind Detroit. While Chicago has seen several companies move to the CBD, nationally it appears the trend is to move outside the city limits.”