Chicago industrial market sees big box inventory, buildings over 250,000 sf continue to perform well
![Chart shows delivery of big box product by year in Chicago industrial market along with year-to-year vacancy rate trends](/documents/91120/193648628/Chicago+industrial+bite+10.18.png/6841fb3f-2090-ef9c-3ca4-7bad3b717415?t=1698166423508)
- The vacancy rate for properties exceeding 250,000 sf has decreased 27.5% since Q1 2021, despite an influx of 42.4 msf within the category being delivered to the market during that same time frame.
- Additionally, rental growth for large scale industrial properties has increased 33% 2023 compared to the same time period in 2021.
- Total market construction activity is down compared to the year prior by 20.8% and this trend is anticipated to continue which will further help vacancy to remain stable.
October 24, 2023