BY THE NUMBERS
CHICAGO—The Chicago suburban office market had a mediocre second quarter, with an overall direct vacancy rate of 21.7%, up from 21.4% at the end of the second quarter, according to a new analysis by MBRE. There was 32,881 square feet of positive overall absorption, brought down by significant negative absorption in the North suburban submarket. The largest deal of the second quarter was a big win for the suburban office market: Caterpillar Inc.'s lease of 116,071 square feet at 510 Lake Cook Rd, in Deerfield. Caterpillar will relocate its global headquarters from Peoria, IL and fill the vacant space left by Beam Suntory's move to Chicago's Merchandise Mart.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
