The Chicago retail market is in an interesting position where leasing volume is noticeably below its historical average while the market’s availability rate continues to compress to historic lows. Retail tenants in Chicago have moved into approximately 4.4 million square feet more than they have moved out of over the past 12 months.
Chicago’s Retail Lease Signings Mostly Correlate With Consumer Spending Trends
Consumers Increased Appetite for Food and Experiences Drive Leasing Activity
By Rhea Stephen
CoStar Analytics
August 22, 2023 | 4:08 P.M.
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