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O'Hare Large Block supply dwindles amidst strong tenant demand

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O'Hare Large Block supply dwindles amidst strong tenant demand

  1. 1. Chicago – Suburban Chart of the week: January 30, 2017 Source: JLL Research O’Hare Large Block* supply dwindles amidst strong tenant demand • Since 2011 the O’Hare submarket’s vacancy rate has dropped from a submarket high of 26.9 percent, down to 16.4 percent, the lowest since the year 2000. • Over the last eight months the total available Large Block space has dropped to eight blocks totaling 775,802 square feet, a 23.7 percent decline from the June peak of 11 blocks totaling 1,017,321 square feet. • Furthermore, as the market continues to tighten, tenants can expect rents to rise while landlords may begin to consider new developments in the submarket. *50,000 s.f. and up availabilities 5 6 7 8 9 10 11 12 650,000 700,000 750,000 800,000 850,000 900,000 950,000 1,000,000 1,050,000 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Contiguous Square Feet Available Number of Large Blocks

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