2020 Q2 Chicago Suburban Office Report

Signs of Life in the Suburbs

Overall vacancy in the suburbs remained relatively flat, dropping 10 basis points to 22.2 percent since last quarter.

Class A vacancy decreased slightly, dropping to 22.2 percent, down 20 basis points from first quarter.

While year-to-date absorption remained negative, the suburban office market achieved 192,852 square feet of positive absorption in the second quarter as tenants who signed leases late in 2019 moved into their space. Most of the positive absorption came from Class A product.

2020 Q2 Chicago Suburban Office Report

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Ronna Larsen

Senior Research Manager

Chicago - Rosemont

Call now +1 847 698 8517

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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