Economic Development Blog

Happy New Year!  Chicago’s quiet giant - its industrial real estate base - has long been an engine for growth for Chicago area commercial real estate firms.  As we claw our way out of the recession, industrial is again lending its stability and strength to the overall recovery.  RE Journals.com, the website of The Illinois Real Estate Journal,recently posted a very good article on how the Chicago area industrial market is leading the recovery. The article cites

• Markets with strong logistics infrastructure that serve as distribution hubs to large populations are seeing the greatest growth levels.
• Although vacancy rates remained unchanged from last quarter, net absorption has progressed into positive territory
• Examples are given for Chicago, Dallas/Ft. Worth, Philadelphia/Harrisburg, and other hubs.

In my own community consulting work in the Rockford, IL corridor, I’m seeing similar trends.

Here’s the link:
http://www.rejournals.com/2010/12/14/industrial-market-recovery-led-by-large-corporate-users-in-gateway-markets/

Chris Manheim