West Loop drives Q2 office leasing bonanza as demand keeps shifting away from the lake

Photo from TheRealDeal.com

By: Alex Nitkin | 7/9/19 | TheRealDeal.com

For the first time this year, it costs more on average to rent an office among the converted warehouses of Fulton Market than it does to work in a lakefront high-rise east of the State Street. The Fulton Market and River West neighborhoods averaged an asking rent below $31 per square foot during the second quarter of 2018, but last quarter the figure surpassed average rents in the East Loop submarket, which have wobbled around $37 for at least a year, according to midyear data released by CBRE. Read More....