Leasing by tech firms in Chicago remained in the doldrums in Q4 2023. Groupon’s 25,000-square-foot lease at 35 West Wacker Drive represented a 90% cut from its previous occupancy at 600 West Chicago Avenue. Meanwhile, information-using job growth steadily plummeted across the region in 2023. There were some positive signals this period, including Illinois Institute of Technology’s 34,000 sf lease at 400 North Aberdeen Street, while food-tech startup Umiami announced it would target Chicago for its U.S. headquarters, bringing 250 jobs to the region.
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