April 2017

REmark: Suburban Office Renovations Creating Increased Occupancy

We recently examined 120 office buildings across the Chicago suburban market greater than 50,000 SF that were renovated between the year 2000 and today. Over half of those buildings (56%) saw a dip in vacancy post-renovations—experiencing an average drop of 34% in overall vacancy. In this installment of REmark, we take a deeper dive into these results by building class and submarket, then visually highlight some of the buildings that saw the largest vacancy decrease following building improvements. Click here for the full story.
 

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