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2020 Q1 Chicago Suburban Office Report

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By Ronna Larsen

Uncertainty in the Suburbs

The suburban office market may begin to generate more interest as businesses choose to move away from dense, urban environments.

Overall vacancy in the suburbs rose 40 basis points to 22.4 percent, up 80 basis points from a year ago. 

Class A vacancy also increased, rising to 23.2 percent, up 80 basis points from a year ago.  However, when considering high quality, trophy assets in the suburban office market, vacancy is considerably lower at 17.7 percent.  

The suburban office market continued to struggle with the year starting off with 404,853 square feet of negative absorption.

Office Report Chicago Suburban

2020 Q1 Chicago Suburban Office Report

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Ronna Larsen | Colliers | Chicago - Rosemont

Ronna Larsen

Director of Research

Chicago - Rosemont

+1 847 698 8517
Email

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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