Search
 

Northwest Suburban Office Market Rebounds

CHICAGO—The departure of GoGo and Motorola left some holes in the submarket, but the best class A space still has drawing power.

By Brian J. Rogal | Updated on October 26, 2015

CHICAGO—The office market in Chicago’s northwest suburbs was stung by the recent decisions of Motorola and GoGo to move into the city’s CBD. But according to Colliers International the submarket made a bit of a comeback in the third quarter.

Overall vacancy ended at 21.2% compared to 21.5% reported in the second quarter of 2015. Both class A and B properties registered decreases in vacancy, but class A properties had the most significant change, ending the third quarter with a 17.2% vacancy rate, down from 17.8%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.