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