As expected at this point in the cycle, Chicago’s downtown office market experienced another quarter of deteriorating fundamentals. Direct vacancy increased 100 basis points to 17.7% and net absorption fell to -1,334,354 SF for Q2 2021, both record numbers for CBRE’s 15-year dataset. Transaction volume made uneven gains in the first half of the year but will be bolstered by several noteworthy deals imminent in H2 2021