Downtown office vacancy declined for a fifth consecutive quarter, as tenants show more decisiveness amid a gradual economic recovery.
The overall vacancy rate in downtown Chicago fell to 14.9 percent during the first quarter, down from 15.4 percent during the fourth quarter, according to a report by commercial real estate firm CBRE Inc. Vacancy has fallen in every quarter since the end of 2010, when the rate was 17 percent. It peaked at 17.3 percent midway through 2010.
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