Over the last 11 quarters, a growing percentage of large suburban leases in the Chicago area have been for tenants expanding their footprints, contrary to headlines suggesting tenants are shrinking or moving downtown. These expanding tenants are expected to favorably impact vacancy rates in select suburban submarkets as they move into their larger spaces.

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Snapshots
Percentage of large suburban leases trends from
stable to growing in recent quarters
Source: JLL Research
• Over the last 11 quarters a growing percentage of large* suburban leases have been for tenants increasing their footprint,
while before that the majority of large leases signaled stability.
• This is contrary to the popular headline that all suburban tenants are shrinking or moving downtown and provides
statistical backing that many tenants continue to succeed and grow their businesses in Suburban Chicago.
• We expect this trend to impact vacancy rates favorably, especially in select submarkets, as these tenants move into their
growing footprints.
April 2017
Suburban Chicago
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
Growing Stable Shrinking *Leases over 20,00 square feet