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Chicago Q2 2025 Quarterly Report

Michael Morrone July 29 < 1

Key Highlights:

  • Class A continued resilience
    The top segment of the CBD posted 84,481 square feet of direct net absorption.
  • Well-located submarkets drive occupancy gains
    River North (257,662 square feet) and Fulton Market (109,687 square feet) were the submarket leaders for direct net absorption in the second quarter.
  • Leasing Activity creeps up
    There was 1,970,410 square feet of Class A leasing activity, a 2.92 percent increase from the previous quarter.
  • Private and institutional buyers slowly return
    Four buildings sold in the second quarter, highlighted by the $45.0 million ($34.26 per square foot) sale of 311 S Wacker Dr.
  • West Loop tallies deals
    Four of the five largest second quarter transactions signed in the West Loop, highlighted by Golub Capital’s 205,450-square-foot relocation to the recently renovated 225 W Randolph St.

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