In general Leasing Trends are showing positive results across the board in virtually all markets. There has been an especially strong run on Industrial Property for lease which is evidenced by reduced vacany rates down to single digits and as low as 4% range around O’Hare/I90 Corridor. Chicago proper has been on fire with Multi-Family, Industrial and Retail all showing gains, and predictions have been forecasting this trend to flow to the suburbs and that is beginning to be seen as well. While Lake County is somewhat limited due to its lack of connecting highways to make truck transport more efficient, we still see movement into existing and some new construction along the I-94 Sector. The attached article further discusses some of those changes.
For more information on leasing trends, please see the following article.