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Building losses from demolitions, conversions reduce office inventory growth to zero

Pace of removing obsolete office space has quickened, and much more is likely ahead
The amount of office space has been shrinking in Chicago, a trend which will accelerate further when the just-announced conversion of the Central Loop's Burnham Center into a hotel gets underway, removing nearly 600,000 square feet of office space from inventory. (CoStar)
The amount of office space has been shrinking in Chicago, a trend which will accelerate further when the just-announced conversion of the Central Loop's Burnham Center into a hotel gets underway, removing nearly 600,000 square feet of office space from inventory. (CoStar)
CoStar Analytics
March 23, 2026 | 12:41 AM

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