Chicago’s Aon Center — home to Jones Lang LaSalle’s global headquarters — is turning 40 this year. The occasion recently caught the attention of the popular commercial real estate newsletter BisNow, which published a story featuring the building’s leasing agents, JLL’s Steve Smith and Mike Curran. Click here (and scroll down to second item) to read [...]
Archive | Office Leasing RSS feed for this section
Five global trends shaping the future of corporate real estate
Earlier this week, our JLL Corporate Solutions team released its second biennial survey on global trends in corporate real estate. More than 600 CRE executives from 545 large companies (ie, more than 1,000 employees) in 39 countries shared their insightsand helped to identify five global trends that will impact the future of corporatre real estate. They are [...]
Hope on the horizon for the suburban office market?
The time is right to move or renegotiate your company’s office lease inthe Chicago suburbs. According to new Jones Lang LaSalle Research findings cited in this story by Crain’s Chicago Business, the vacancy rate in the suburbs fell to 24.4 percent in Q1 2013 thanks to more than 135,000 square feet of positive net absorption. [...]
Steve Smith: Economics improving for Chicago landlords
Steve Smith, head of the JLL Landlord Leasing group in downtown Chicago, recently penned this commentary piece for the national commercial real estate magazine Real Estate Forum. In it, Steve discusses how the combination of increasing demand and no new costruction (a new office tower won’t open here until 2016 at the soonest) portends a decrease [...]
2013 Chicago Skyline Report takes a peek inside Chicago’s top office buildings
The 2013 edition of Jones Lang LaSalle’s annual Chicago Skyline Review is hot off the presses, and the results are already catching the eye of the Chicago business media. The report — which analyzes the stacking plans of the CBD’s 54 most important office buildings and gives a snapshot of the overall leasing climate here [...]
VIDEO: JLL’s Dan Ryan and Chris Kennedy discuss Chicago commercial real estate trends
Earlier this year, JLL Central Region Market Director Dan Ryan served as emcee for the 11th Annual Illinois Real Estate Journal Commercial Real Estate Forecast Conference here in Chicago. Among his duties was moderating a one-on-one discussion with Chris Kennedy, scion of the Kennedy family and longtime former head of the the Merchandise Mart. Video [...]
Markets react favorably to ‘fiscal cliff’ deal
The first trading day of 2013 ended with big gains after Congressional leaders reached an eleventh-hour deal to end the so-called “fiscal cliff” impasse that loomed over the U.S. economy for much of November and December. The positive reaction by investors would seem to signal renewed confidence in the economy and may even foreshadow an [...]
Silicon Prairie 2.0: Here at last?
Crain’s Chicago Business columnist Greg Hinz provided an optimistic scorecard last week on Chicago’s recently-revived efforts to become a global hub for high-tech jobs. Pointing to the announcement that Motorola Mobility will be moving its headquarters to the Merchandise Mart — as well as recent reinvestments by Nokia, GrubHub, Groupon and others – Hinz says the [...]
LIVE BLOG: JLL’s Jack Keenan at today’s BisNow Chicago “Tech Summit” event
Jones Lang LaSalle’s Jack Keenan (left) is among several featured panelists at today’s Tech Summit/Office of the Future event sponsored by the popular commercial real estate e-newsletter BisNow. The first panel session of the day features several top local architects, designers, builders and developers. (The broker/owner panel featuring Jack Keenan begins at 8:45 a.m.) 8:05 [...]
Catapult Chicago puts unique spin on tech incubator/accelerator concept
Catapult Chicago, the incubator/accelerator space for tech start-up comapnies in River North, got some great exposure recently thanks to this article in the Chicago Tribune. Catapult was founded by partners with the law firm Foley & Lardner, which provides the space for free and offers pro bono office hours for Catapult’s 12 member companies. Foley & Lardner senior [...]
New York Times looks at proposed Chicago office developments
The New York Times is the latest major media outlet to shine a spotlight on the downtown Chicago office market and the plans by several well-known developers to build new office towers here. As has been widely reported, the most-likely-to-be-completed project is the 45-story, 1-million-square-foot River Point tower being developed completely “on spec” (ie, construction will [...]
Office tenants keep strong upper hand in suburbs
The vacancy rate in Chicago’s suburban office market continued its gradual decline in Q2 2011, but a lack of activity among larger users has landlords still struggling to fill space. As a result, oportunities abound for tenants to renew their leases at favorable rates or upgrade facilities, Jones Lang LaSalle’s Todd Schaefer tells Crain’s Chicago Business [...]
Office leasing velocity slows in Chicago CBD, but rents continue gradual climb
Office leasing velocity in downtown Chicago slowed in the second quarter of 2012, according to Jones Lang LaSalle’s newly released Q2-2012 Chicago Office Report. But while the overall vacancy rate downtown actually climbed a nominal 10 basis points from 14.0% in Q1 to 14.1% at the end of Q2 as a result, the protracted trend of of [...]
Google targeting Merchandise Mart for huge new office lease
One of the world’s biggest brands is coming to Chicago’s biggest office building according to a new report from Crain’s Chicago Business. The magazine reports today that Google is in advanced talks with the owners of the iconic Merchandise Mart for a lease that could exceed 500,000 square feet. The lease is expected to accomodate many, [...]
Hines execs dish on plans for spec office tower
As has been widely publicized in recent weeks, the real estate developer Hines will be breaking ground later this year on the first new office tower in the Chicago CBD in more than three years — a breathtaking new 45-story tower at 444 W. Lake Street (see rendering above). And adding another layer of intrigue [...]