Wintrust Business Minute: Office vacancy in Chicago suburbs at record high

Steve Grzanich has the business news of the day with the Wintrust Business Minute. The office vacancy rate in the suburbs has ticked up again and is now at a record high. Real estate services firm Jones Lang LaSalle says the suburban office vacancy rose to 28.9% in the second quarter, up from 28.5% in […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

The office vacancy rate in the suburbs has ticked up again and is now at a record high. Real estate services firm Jones Lang LaSalle says the suburban office vacancy rose to 28.9% in the second quarter, up from 28.5% in the first quarter. A year ago it was 27.1% and at the beginning of 2020 it was 22.1%. The data is further evidence that companies are still shrinking office footprints as remote work continues. JLL says the suburbs have lost more than 3 million square feet of office space since 2020, nearly the same amount that was lost during the Great Recession that started in 2008.

Also, Blue Cross & Blue Shield of Illinois has 300 jobs to fill at its customer service center in Chicago’s Pilsen neighborhood. Listen for more below:

https://serve.castfire.com/audio/4140408/4140408_2023-07-18-204808.64kmono.mp3