The I-88/I-90 corridors are some of the largest office submarkets, with more new office spaces added and more leases signed than any other submarket. This area spans from Batavia to Oak Brook and Arlington Heights to Burr Ridge. This centrally located submarket also has the advantage of its proximity to the upper-income population in DuPage County and convenient highway access.
In the Eastern section of the Chicagoland suburban office market, there is over 50 million square feet of inventory. The recent trend shows higher asking rates and higher sales prices in predominately class A and B+ assets. Even though prices are generally rising, the underlying activity seems to be flattening out. What was multiple consecutive quarters of positive absorption has recently turned negative. We do not foresee a major fundamental shift within the macro level dynamics, but there are still micro level pockets that are performing ahead of the rest of the market.
Experience / Presence in the Market
Rawly Lantz and Justin Harris are a team of office brokers representing landlords and tenants in the Chicago suburban market. This team has over 30 years of combined experience providing business solutions to small, midsize, and large corporations alike. As a team, Lantz and Harris have negotiated over 2 million square feet of leases and building sales with a total value in excess of $100 million.
Some of their notable clients include: RP Investments, Lexington Realty Trust, W.H. McNaughton Development, Frontier Capital Group, Local No 731 Pension Trust Fund, and Rothbart Realty