Key Highlights:
- Leasing activity remained resilient:
The Chicago industrial market recorded 15.2 million SF of leasing in Q1 2026, driven by strong big‑box demand from logistics, food, and e‑commerce users, with the I‑80 Joliet and I‑55 corridors leading activity. - Market fundamentals showed modest improvement:
Overall vacancy declined to 5.8%, with the market posting 839,230 SF of positive net absorption, reflecting gradual rebalancing despite uneven performance across submarkets. - Development activity stayed elevated:
More than 15.0 million SF remains under construction, largely speculative, underscoring continued long‑term confidence in Chicago’s industrial and logistics market amid a more selective leasing environment.