A report focusing on the greater Chicago metro area is seeing a lot of potential in the suburbs, despite growing jitters over the effects that the COVID-19 pandemic is likely to have on the broader real estate market.
A report from Colliers International entitled "Signs of Life in the Suburbs" has found that the suburbs around the windy city are well positioned to meet the changing needs of tenants, landlords and businesses in the wake of the COVID-19 pandemic. Specifically, the report said the suburbs are becoming more desirable as milennials entering the market are increasingly looking to the suburbs, and large companies are also increasingly looking to open satellite offices in less densely populated areas.
All sides of the real estate equation have also worked together in making sure the markets stay viable despite the COVID-19 related shocks, the report said.
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Max Mitchell
Max Mitchell is ALM's Regional Managing Editor for The Legal Intelligencer, New Jersey Law Journal, Delaware Business Court Insider and Delaware Law Weekly. Follow him on Twitter @MMitchellTLI. His email is [email protected].
