July August 2022 Chicago Industrial Properties

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CRE MARKETPLACE (pg.14): ASSET/PROPERTY MANAGEMENT FIRMS GENERAL CONTRACTORS DEVELOPERS ECONOMIC DEVELOPMENT CORPORATIONS LAW FIRMS VOL.32 NO.4

THE LEADING NEWS SOURCE FOR INDUSTRIAL REAL ESTATE PROFESSIONALS & USERS

JULY/AUGUST 2022

What’s next for Chicago’s red-hot industrial market?

Pullman Crossings. Courtesy of Ryan Companies

By Mia Goulart, CIP Staff Writer

I

t’s been good year for industrial real estate, especially in Chicago.

The market has seen a record-breaking year, despite a fair share of economic hurdles still at play. So how did Q1 and Q2 of 2022 shake out? And what about the rest of the year?

Chicago Industrial Properties spoke with Kyle Schott, Director of Real Estate Development, Ryan Companies; Kelly Disser, Executive Vice President, NAI Hiffman; and Brian McKiernan, Senior Vice President, Development, CenterPoint Properties, about Chicagoland’s red-hot demand and the forecast for Q3 and Q4. INDUSTRIAL REVIEW (continued on page 6)

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The main buzzword for I-55? Growth By Mia Goulart, CIP Staff Writer

G

rowth. This is the main buzzword when talking about the I-55 Corridor. But is the increasing demand welcome news for all? It depends on who you ask. I-55’s present vacancy rate is just 1.4%, or 1.5 million square feet, and the shortage of supply has caused rents for ready-to-occupy space to skyrocket above predictions. This is, of course, unfortunate for businesses wanting to either grow

I-55 (continued on page 8)


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