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2020 Q4 Chicago Suburban Office Report

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Light at the End of the COVID-19 Tunnel?

The first half of 2021 is expected to have minimal leasing velocity, with many companies still evaluating what the future of their workspace will look like as they plan a return to the office following the broader distribution of COVID-19 vaccines. Optimistically, we are expecting increased transaction volume in the second half of the year as these companies look to implement their new real estate strategies. However, this will likely still result in increased vacancy, both on a direct and sublease basis, and negative absorption for calendar year 2021.

 

Office Report Chicago Suburban

2020 Q4 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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