Rents remain high in Chicago’s Central Business District office sector as demand continues to see a slowdown. In the fourth quarter, the area’s negative net absorption reached -768,717 square feet, up more than six-fold from the previous three months, according to the latest market report from Colliers. That brings the entire 2024 figure to a total of -1.77 million square feet.

The biggest issues appear to be happening in East Loop, where net absorption was -331,811 square feet. That marked the seventh straight quarter the submarket remained in the red for that category.


NOT FOR REPRINT

© 2025 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 © 2025 ALM Global, LLC. All Rights Reserved.