IL - Chicagoland
IL - Springfield
DEMOGRAPHICS
Chicago
Naperville-Joliet, IL-IN-WI
7,212
9,617,804
3,484,370
$88,029
4,186,171
9.3%
Coldwell Banker Commercial
NRT - Northbrook
2215 Sanders Rd., Suite 350
Northbrook, IL 60062
(847) 313-4646
www.cbcnrt.com
CONTACT
OFFICE
Vacancy
Q
Absorption
P
Rental Rates
P
INDUSTRIAL
Vacancy
Q
Absorption
P
Rental Rates
P
MARKET HIGHLIGHTS
•;The Chicago Industrial market
continued to improve in the
4th quarter of 2011. There was
1,550,000 SF of net absorption
in the 4th quarter. The largest
leases signed in 2011 were
Clorox for 1,350,000 SF, Home
Depot for 658,000 SF, 3M for
651,000 SF and Samsung for
649,000 SF.
•;The vacancy rate in Industrial
and Office space decreased in
the 4th quarter of 2011 while
the vacancy rate for Retail
increased. The main reasons
for the lower vacancy rate
in Industrial and Office are
because several large blocks of
space were leased and there was
virtually no new construction.
•;There has been virtually no
new construction of Retail,
Industrial or Office space in
2011 and almost all of the new
construction completed has
been build-to-suits or space
that was pre-leased.
•;The residential market
continues to struggle for sales
of single family homes and
condominiums. However, the
Apartment market continues to
flourish with low vacancies and
increasing rents. There are also
several new high end Apartment
buildings being built.
RETAIL
Vacancy
P
Absorption
Q
Rental Rates
Q
MULTI-FAMILY
Vacancy
Q
Absorption
P
Rental Rates
P
DEMOGRAPHICS
Springfield, IL
1,182
208,696
87,497
$70,814
85,028
7.5%
Coldwell Banker Commercial
Devonshire Realty
3201 Old jacksonville Rd.
Springfield, IL 62711
(217) 546-6650
www.cbcdr.com
CONTACT
OFFICE
Vacancy
Q
Absorption
P
Rental Rates
P
INDUSTRIAL
Vacancy
N
Absorption
N
26 Rental Rates
N
MARKET HIGHLIGHTS
•;Scheels opened a 200,000 + SF
store.
•;Springfield market has good
stability because of a large
work force employed by the
medical community and State
Government.
•;St. John’s Hospital is doing
approximately $180,000,000
in new development and
redevelopment of its campus.
This adds jobs to the medical
community and to other sectors
of the economy.
•;Residential market is slightly
up from previous year and
continues to improve.
•;Gradual increases are a result of
stability of work force and the
large area of Central Illinois that
the Springfield market services.
•;Springfield is located
approximately 3 hours from
Chicago, 1 1/2 hours from St.
Louis and has Interstate 55 that
goes from St. Louis to Chicago
and Interstate 72 that runs
from Eastern Illinois through
Champaign to Missouri. The
town is centrally located for all
types of commercial activity.
RETAIL
Vacancy
Q
Absorption
P
Rental Rates
P
MULTI-FAMILY
Vacancy
Q
Absorption
N
Rental Rates
N
