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Chicago market tightens modestly as supply remains in check
Market conditions improved across the Chicago industrial sector to begin 2026, with vacancy declining 20 basis points year over year to 7.2%, its lowest level since late 2024. After a more subdued environment throughout much of 2025, occupiers have begun moving forward on previously delayed decisions, particularly for larger blocks of space. This renewed activity, combined with limited deliveries and a subdued construction pipeline, has allowed the market to work through existing availability and gradually tighten conditions.