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Midtier office buildings take the biggest hit in Chicago’s shifting market

As companies downsize and seek modern amenities, older three-star properties face rising vacancies and steepest rent declines.
By Adrian Brizuela
CoStar Analytics
November 3, 2025 | 9:20 P.M.

Over the past year, Chicago’s office market has faced major shifts, and the biggest impact has been felt in midtier office buildings. The three-star segment saw the steepest rent decline at 0.8%, highlighting the growing challenges these properties face.

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