Chicago’s downtown office market continues to realize the lasting effects of the COVID-19 pandemic as vacancy pushed to a record-high and negative absorption reached its lowest number in more than 10 years. The direct vacancy for the CBD rose 120 basis points (bps) from Q4 to 16.7%, which is the highest rate CBRE has on record. Net absorption for Q1 2021 fell to negative 626,751 SF, a number that hasn’t been seen since Q1 2010.