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Chicago CRE Sentiment Starts Turning Bearish
Commercial real estate professionals in Chicago continue to find strength in the local market, yet the intensity of their convictions is changing, due largely to state and local taxing uncertainties. That’s the topline finding of a CRE sentiment survey conducted by DePaul University.
The Second Annual Chicago Mid-Year CRE Sentiment Report produced by the Real Estate Center at DePaul University finds that approximately 52% of participants characterize the market as consistently strong, down from 69.8% a year ago.
“In general, CRE professionals in Chicago want to be optimistic that there is plenty of strength and momentum left to keep the cycle moving forward,” said Charles Wurtzebach, who chairs DePaul’s Real Estate Center. “Yet, there are concerns and obstacles that can’t be overlooked; they are impacting market sentiment.”
The percentage of respondents who are bullish on the market has declined slightly, while bearishness has increased from 4% to 20% of respondents.
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- ◦Economy
