Downtown Office Vacancy at High Level

Updated: Tuesday, 30 Mar 2010, 7:48 AM CDT
Published : Tuesday, 30 Mar 2010, 7:48 AM CDT

FOX Chicago News

Chicago - The office vacancy rate in downtown Chicago has hit a seven-year high.

Crain's Chicago Business is reporting that the vacancy rate spiked during the first quarter to 14.9 percent, up more than a percent over the 4th quarter of 2009.

Experts say new development is one of the culprits, as it creates more vacant office space.

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