Q1 2025 Chicago Suburban Market Report

Chicago suburban landlords continue to face mounting pressure amid persistent market declines. Vacancy rates are rising as companies reduce their office footprints by up to 30%, aiming for greater efficiency. With continued financial stress expected over the next three years, landlords who once tried to maintain pre-pandemic rental rates are now turning to lower rents as a strategy to attract and retain tenants. Adapting to these shifting conditions will be essential for staying competitive in the evolving market.