Following are some of the highlights in the Chicago CRE markets making headlines in the 4th Quarter of 2022: several large property acquisitions, Chicago’s industrial vacancy rate, a major financing deal, and more.

ICG goes through the latest Chicago commercial real estate news, focusing on industrial and office real estate, to put together a list of some of the top stories around the region every quarter.

Chicago Commercial Real Estate News Q4 2022

Industrial Sector Riding Momentum from 2022

Industrial real estate is “riding a wave” of momentum into 2023. This article covers the high demand for big box and / or warehouse distribution centers over 200K square feet. Read More

What To Know for Industrial Real Estate Going Into 2023

REJournals covers the great year that the industrial real estate market had in 2022, and looks into 2023 for important projects and possible predictions. Read More

Joint Venture Acquires Chicago Industrial Real Estate Portfolio for $100M

A JV with Clear Height Properties and Harbert US Real Estate just acquired an industrial portfolio of assets in Chicagoland for over $100 million. The portfolio consists of 31 properties total. Read More

An Office in Chicago’s Central Loop Leases Over 100K of Sq Ft in November

425 S Financial Place, a 40-story office complex in the Central Loop of Chicago, leased over 100,000 square feet of office space in Q4 2022. Read More

Demand for Sustainable Warehouses Expected To Jump

According to Prologis, demand for sustainable warehouses is starting to pick up and expected to jump as sustainable products are starting to become more affordable. Read More

Midwest Industrial Funds Seals the Deal On Two Industrial Real Estate Leases

Midwest Industrial Funds inked over 400,000 square feet of leased space in Chicago’s Fox Valley submarket. Read More

Future of Horizon Therapeutics’ Offices in Deerfield Up In The Air After Amgen Acquisition

Amgen, a biotech company, will acquire Horizon Therapeutics (a biopharma company) for $28B. This deal puts the future of Horizon’s Illinois campus in the air. Read More

Chicago Industrial Real Estate Vacancy Rate Starts to Climb a Bit As New Assets Are Completed

Chicago’s industrial real estate vacancy rate went up for a second quarter in a row after years of dropping, as new warehouses and assets come online in the area. Read More

United Rentals Completes Acquisition of Ahern Rentals for $2B

United Rentals, a rental services provider for construction and industrial companies, purchased Ahern Rentals for $2 billion. Read More

Midwest Industrial Funds Begins Construction on 400K-Square-Foot Spec Property

Midwest Industrial Funds hosted a groundbreaking event in November to celebrate the beginning of their Class-A development. Read More

Chicago Joins List of “Multilevel” Warehouse Markets reports on how Chicago is added to the list of cities around the country looking to find room for a multi-story warehouse. Read More