Bisnow's National Industrial & Logistics Midwest Summit

What do summer in Chicago and industrial commercial real estate have in common? Both are hot, hot, hot!

In 2017, we saw a shift in the industrial commercial real estate sector as demand drastically increased with the astronomical rise of e-commerce, and it doesn’t seem to be slowing down anytime soon. (You can thank millennials for that one).

According to JLL, in Q1 2018, the industrial vacancy dropped 20 basis point to 4.8%. This is in response to an increased leasing demand of smaller to midsized spaces and the lack of available buildable land for mega-box warehouses.

Which is why it's no surprise that Chicago remains #1 in total inventory with close to 1.2 Billion sq. feet of inventory while vacancy rates hover in the single digits.