JLL: Chicago CRE investment volumes up 5% in 2015
In its Global Market Perspective for 1Q16, Jones Lang LaSalle noted that commercial real estate investment volumes in Chicago rose by 4% in 2015. Capital values for prime offices rose by 8.3%. Rental yields for prime offices were 4.6%, or 153 basis points above the yield on the relevant long-dated government bond. Rents for prime office space rose by 3.7%. Net absorption during 2015 was equal to 1.5% of existing stock. At the end of the year, the office vacancy rate was 15.0% and the supply pipeline for 2016-17 equated to 1.3% of existing stock.
Source : JLL/ January 2016/Chicago/OFF