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Chicago Suburban activity mostly dormant as leasing slows to a crawl
While the state government began reopening the Illinois economy in late June as COVID-19 spread appeared relatively well contained, the Chicago Suburban office market remained mired in near stasis. Transaction activity in the second quarter fell by 62.1% compared to a year ago, falling to its lowest quarterly level in more than a decade. Few large tenants were reported to be actively touring in the market during the quarter. This inactivity was largely expected in the wake of insecurity and lack of clarity associated with COVID-19 both regionally and nationally.