Takeaway: Leasing and development and investment sales in this segment are beginning to show signs of slowing, but not flattening out, whether inside or outside the Loop. Growth in rents and
prices in general is projected to continue, albeit at a slightly lower rate than in recent years.
• Huge price increases inside the Loop in leasing and sales, due to increased desire for ‘urban living’ by empty nesters and Millennials, aided by strong growth of mid- and high-rise residential units
• Reducing commuting time by living ‘closer to the action’ has a high appeal, plus ‘having fun right where you live’
• As some big box stores exit the scene, they are tending to be replaced now with entertainment, fitness, or restaurant tenants… not traditional clothing stores
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