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2019 Q2 Chicago Suburban Office Report

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Consistency in the Suburbs

The gap between Class A and B product continues to grow in both quality and price.

Mid-sized tenants in the suburbs continue to offer the most relocation potential. There are over 100 tenants with needs ranging from 10,000 to 50,000 square feet that are actively seeking space throughout the suburban office market. 40 percent of them are showing interest in the Northwest market.

Redevelopment of vacant suburban office properties continues in the suburbs. Bell Works Chicago has begun their mix-use redevelopment of AT&T’s former HQ in Hoffman Estates. Veridian is seeing activity at Motorola’s former HQ campus in Schaumburg with residential and land sales including 18 acres for townhomes that is currently under contract to DR Horton and a Top Golf entertainment complex which is near completion. McDonald’s former HQ in Oak Brook was recently purchased by John DeJoria, co-founder of Paul Mitchell hair products for undisclosed development plans.

Office Report Chicago Suburban

2019 Q2 Chicago Suburban Office Report

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Ronna Larsen

Director of Research

Chicago - Rosemont

Working alongside the office tenant and landlord representation brokers of Colliers International | Chicago’s Suburban Office Advisory Group, I provide our clients with customized reporting and analysis. As the research manager for the Suburban Office Advisory Group, I specialize in the collection and analysis of market and economic related statistics and prepare quarterly market reports for the overall suburban office market and individual submarkets.

I provide detailed market knowledge through the collection, organization and distribution of primary data including lease comparables, tracking tenants in the market, large-block availabilities as well as creating drive-time and demographic analysis and competitive building skyline reports. My more than 20 years of real estate experience have made me an integral asset to the team.

Prior to joining Colliers, I spent 10 years with CoStar managing the Chicago tenant division. During my tenure, I was responsible for the overall comprehensiveness and quality of a database of 50,000 tenants.

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