chicago downtown (2) Year-to-date absorption hit 2.1 million square feet, sending the vacancy rate down 40 bps to 17.4%, the lowest rate of the year.

CHICAGO—As reported in GlobeSt.com, the Chicago region’s industrial market has slowed down a bit, and it looks like the office market may also tap the brakes in 2018 as well. According to a fourth quarter report from Newmark Knight Frank, year-to-date absorption hit 2.1 million square feet, sending the vacancy rate down 40 bps to 17.4%, the lowest rate of the year. And rental rates went up 1.1% to $27.47. But NKF also says other trends are becoming visible.