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Chicago’s Office Tenants Mostly Prefer Younger Properties, Regardless of Renovation

Highest Vacant and Available Rates in Older, Recently Upgraded Buildings
Law firm Neal, Gerber & Eisenberg last month agreed to lease 90,000 square feet at 225 W. Randolph St. Its current lease for 119,000 square feet at 2 N. LaSalle St. expires May 2025.  (Justin Schmidt/CoStar)
Law firm Neal, Gerber & Eisenberg last month agreed to lease 90,000 square feet at 225 W. Randolph St. Its current lease for 119,000 square feet at 2 N. LaSalle St. expires May 2025. (Justin Schmidt/CoStar)
CoStar Analytics
December 6, 2023 | 8:07 P.M.

Chicago's most vacant and available office spaces on CoStar's platform are mostly from those built before 1989 and not renovated, while the tightest and available supply is, not surprisingly, from the youngest group — office properties completed after 2010 — according to a study by CoStar's office analytics team.

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