Since the start of the COVID-19 pandemic, vacant office space in U.S. downtowns has increased by about 136 million square feet. To deal with this? A growing number of office building owners are converting this vacant space to other uses.
It's true that investment sales activity has slowed in commercial real estate markets across the country. Chicago is no exception. But the commercial real estate professionals who gathered Dec. 4 at Maggiano's Little Italy in Oak Brook, Illinois, for Illinois Real Estate Journal's Chicagoland Commercial Investment Summit, were optimistic that 2025 would be a stronger year for investment sales throughout the Chicago market.
