Photo by Harry cao on Unsplash
Suburban office space has seen increasing demand in the past years, a trend which has only been amplified by the current pandemic, as companies are looking for offices in lower-density areas. Chicago is the fifth-largest market in the country in terms of suburban office space, according to a recent study by Commercial Cafe.
Findings:
– There are 162 million square feet of office space located in suburban areas of Chicago. This number represents 50% of the market’s total office space.
– I-90 Golden Corridor is Chicago’s largest suburban office submarket, as well as the fifth-largest in the country, boasting 29 million square feet of suburban office space.
– Coming in second in Chicago and ninth in the U.S. is the North Shore-North submarket, with 26 million square feet of suburban office space.
– 7.8 million (36%) out of the 21.7 million square feet of new office space Chicago added in the past decade was in suburban locations.
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