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Chicago & Midwest  + Office  |  December 9, 2019
Paul Bubny
By: Paul Bubny

Chicago Law Firms Continue Space Contraction Trend

Law firms continue to contract space in Chicago, as relocations remain popular according to the 2019 North American Legal Trends Report from CBRE’s Law Firm Practice Group.

Overall, Chicago—the nation’s fourth-largest legal sector market—recorded 854,255 square feet of law firm transactions in the year that ended June 30, up from 702,971 square feet the year prior.

The market was dominated by contractions, representing 65.6% of transactions in this time period. Two-thirds of law firm transactions over the 12-month period were relocations.

“There has been a flight to quality in Chicago, and law firms are continuing to seek increased efficiency and flexibility within their space,” said Todd Lippman, Chicago-based member of CBRE’s Law Firm Practice Group. “The market has seen a surge in new construction in recent years, and firms are giving these top-quality sites strong consideration as they look to recruit new talent and retain current employees.“

Pictured: The under-construction 110 North Wacker, which has seen leases by prominent law firms.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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