Wednesday, November 10, 2010

Chicago Industrial Real Estate 3rd Quarter Trends

Third quarter trends our out for the Chicago industrial market and the overall vacancy rate in Chicago dropped 20 basis point to 11.9% the lowest vacancy rate that we have seen for the entire Chicago industrial market since the 4th quarter of 2009.

The I-55 corridor vacancy rate dropped to 11.3% marking the the second consecutive quarter of declining vacancy in this submarket and the lowest vacancy rate since the 4th quarter of 2007 when the vacancy was at 9.7%. I think we will continue to see a decline in of vacancy rates as owners/investors continue to lease up property while holding off on any speculative development at this time.

To view Grubb & Ellis industrial market trends for the Chicagoland area and for the I-55 corridor, please visit