Chicago’s office market, still recovering from the pandemic, shows promising signs of a strong rebound in 2025, according to a new report. Avison Young, a global commercial real estate firm, included Chicago as one of the key markets to watch next year.
The firm tracks office space usage with its “Office Busyness Index,” which measures the level of activity in office environments. As of November 2024, Chicago offices were operating at 56.6% of the busyness seen in November 2019. By comparison, Manhattan was at 73%, Los Angeles at 61.9%, and the national average stood at 60.8%.
While the recovery is ongoing, Chicago is gradually making strides in regaining its office activity, suggesting that 2025 could be a pivotal year for the city’s commercial real estate sector. The anticipated increase in office activity reflects broader trends in the nation’s post-pandemic shift, where cities are adjusting to new working habits but still holding onto the importance of physical office spaces for businesses.
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