Chicago rental rates push up despite little change in vacancy; as construction pipeline swells, uncertainty over whether demand can be sustained

As the greater economy remained hamstrung by the pandemic at the close of 2020, all real estate sectors found themselves mired in varying degrees of uncertainty. To date, Chicago’s industrial asset class has been more resilient than others in the wake of the pandemic, as tenant demand has remained strong among certain types of large occupiers. However, many users have chosen to remain on the sidelines, taking a wait-and-see approach concerning their occupancy requirements.

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