Sunday, September 30, 2012

Tenants flee suburban Chicago office parks

Crain's Chicago Business reports:
Highs and lows are a part of real estate, but the ongoing recovery in Chicago differs in one big way from past cycles: Better times have yet to commute out of the city. Suburban landlords have more unwanted office space than any major metro area in the country, concludes New York-based tenant brokerage Studley Inc.
Check out the picture of Allstate "demolishing a 516,000-square-foot building it no longer needs."