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Regional Summaries

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Chicago, IL

Apartment
Development is booming by recent standards in the 474,511-unit market-rate, investment grade Chicago apartment market, the inventory is massive compared with that new supply. As a result, the vacancy rate remains below the 5.0% level here, and rent gains remain strong, at least for the moment. Reis reports a vacancy rate of 4.6% for the fourth quarter of 2017, up 50 basis points during the year and up 30 from the prior quarter. During 2017, average rents increased by the highest percentage since 1990, and overall inflation had been much higher in 1990 than it was last year. The average asking rent rose 5.6% over the year to $1,371 per month, with the average effective rent up 5.7% to $1,303 per month. The fourth quarter rent increase was 1.1% by both measures. VIEW APARTMENT LISTINGS >
Industrial
The 563-million-square-foot Chicago warehouse/distribution market had a third consecutive year of enormous demand in 2017, but new supply was even greater. The fourth quarter 2017 warehouse/distribution vacancy rate is 12.6% for metro Chicago, up 70 basis points over the year and up 40 during the quarter. For ChicagoÂ’s warehouse/distribution market, the average asking rent increased 2.9% over the year to $5.05 psf, with the average effective rent up 3.2% to $4.50 psf. The fourth quarter gains were 0.6% and 0.7%, respectively. The 49.3-million-square-foot Flex/R&D market is in balance but is far less active, with an older inventory causing a relatively elevated vacancy rate. The local Flex/R&D vacancy rate was 13.1% in the fourth quarter, essentially unchanged over the year but up 10 basis points for the quarter. For Flex/R&D space, ChicagoÂ’s average rents increased by 1.5% asking and 1.7% effective during 2017, including 0.2% and 0.4% increases for the fourth quarter. These rates ended the year at $8.15 psf and $7.01 psf. VIEW INDUSTRIAL LISTINGS >
Office
The 248-million-square-foot metro area Chicago general purpose, multi-tenant office market managed to absorb a significant amount of new space in 2017 without rising vacancy for the second consecutive year. Reis reports a fourth quarter 2017 vacancy rate of 17.6% for the metro Chicago office market, down 20 basis points during the year and unchanged from the prior two quarters. ChicagoÂ’s office rents rose modestly in 2017, for the seventh year in a row, as both the average asking rent and the average effective rent were up 1.8% over the year. The fourth quarter gains were 0.6% asking, to $30.73 psf, and 0.5% effective, to $23.67 psf. VIEW OFFICE LISTINGS >
Retail
Reis reports a 12.6% vacancy rate for ChicagoÂ’s 103 million square feet of community-neighborhood shopping center space for the fourth quarter of 2017, down 30 basis points over the year and up 10 during its final quarter. During 2017, the average asking rent increased 0.7% to $20.08 psf, and the average effective rent rose 0.8% to $17.73 psf, the latest in a series of small increases following the small decreases of 2008 to 2012. Rents edged up slightly during each quarter of 2017, with the fourth quarter gains at 0.1% asking and 0.2% effective. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

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The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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