Suburban Chicago market displays promising start to 2025 as fundamentals improve
The Suburban Chicago office exhibited continued momentum at the start of 2025, as evidenced by recovering occupier demand and strengthening market fundamentals. Quarterly leasing activity across the suburban market totaled nearly 2.0 million square feet (msf), marking the office market’s best performance since the onset of the pandemic in 2020. Leasing volume increased 24.8% from levels reported in Q1 2024. In the largest Suburban Chicago lease transaction in more than a decade, Fortune Brands Innovations leased 370,000 square feet (sf) at the former Horizon Therapeutics campus in Deerfield.