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BOMA/Chicago Shares Economic Impact Study Results

In October 2017, BOMA/Chicago released results of an economic impact study performed by JLL. BOMA/Chicago commissioned the study to better understand the economic value of its building member owners to the city of Chicago and gather critical information on the state of Chicago’s commercial real estate industry.

Available on BOMA/Chicago’s web site, the study results show that the average vacancy rate of Chicago’s Central Business District has dropped more than 34% since 2012. Gross rents have increased 23.5%. The study also reported that Fortune 500 company hubs have expanded two-fold and the number of business housed in Chicago office buildings increased by 25%.

The study also pointed out that office buildings throughout Chicagoland led the national with the greatest total square footage of buildings with Energy Star or LEED certifications.

Image courtesy BOMA/Chicago.

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