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Old Posted Mar 29, 2018, 3:23 PM
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MayorOfChicago MayorOfChicago is offline
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Join Date: Aug 2003
Location: Lakeview, Chicago
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Quote:
Originally Posted by left of center View Post
Probably not until the next cycle. Too much office coming online now, from 151 N Franklin to all the projects in the West Loop. Not sure how much vacancy there is from 150 N Riverside and River Point that could also suck away demand for any more office built on spec.
When we opened 150 Riverside it was 85% leased and when we sold it last summer it had bumped up a bit. From my understanding River Point opened with 85% pre-leasing as well. There's probably some space left in those buildings, but themselves they aren't dumping much space out there - although they probably sucked up a lot of space that's been left empty in other buildings.

The old post office is what will glut the market next year and probably shut off the pipeline of anything else getting off the ground the next few years or so.
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