2017年经济影响研究
博马/十大网赌靠谱网址平台 commissioned JLL to conduct a research study analyzing the economic impact of our building members. This study was conducted to better understand our members’ economic value to the City of Chicago, as well as glean critical information on the state of Chicago’s commercial real estate industry. It was also intended to expand upon previous Economic Impact Studies commissioned in 2012 and 2006.
We are pleased to share the final report on Phase I of the 2017 博马/十大网赌靠谱网址平台 经济影响研究 with you. 下载 经济影响研究 然后阅读 经济影响研究分析.
首先是好消息. As a globally competitive city, Chicago’s commercial real estate market continues to gain momentum.
自2012年以来, average vacancy in Chicago’s Central Business District (CBD) has dropped more than 34 percent, 平均10.3 percent in 2016, and gross rents have increased 23.5%，平均38美元.20. These gains are surely strengthened by the job growth Chicago has experienced over recent years, along with a continued diversification of industries. 此外, Chicago remains a corporate headquarters hub, with Fortune 500 companies expanding two-fold and the number of businesses housed in Chicago office buildings increasing by 25% since 2012.
Our research indicates there are several key trends driving increases in occupancy:
- Chicago has earned its place as a robust tech hub.
- The migration of corporate tenants from the suburbs to Chicago has seen a seismic shift since 2010.
- 共享空间运营商的存在感越来越强.
What is the economic impact of this steady growth and momentum in the market:
Chicago’s office buildings are more than just a stunning skyline; they contribute to our economy, 城市和环境以各种方式.
Chicago commercial office buildings spent nearly $2.2 billion in operating expenditures in 2015, injecting $4.6 billion into the local economy – an increase of 31.比2012年增长3%. New personal earnings – labor income generated as a result of both the jobs supported directly by this spending and the jobs supported indirectly by the re-spending of these dollars for consumer goods and services – reached $1.40亿，代表33.比2012年增长了4%.
Chicago’s office buildings also continue to be national leaders in sustainability. Building owners and managers have embraced energy efficiency not only because it’s the right thing to do, but also because energy reduction has proven to reduce costs for their assets and for their tenants. In 2016, office buildings across the Chicagoland led the nation with the greatest total square footage of buildings with 能源 Star or LEED certifications, increasing its percentage of green stock by 6.5 percent from 2015 for a year-end total of 66 percent.
Despite many of these positive market indicators, 威胁依然存在, that could harm the ability to attract and retain tenants, while also operating buildings in a sound and efficient manner.
- 运营费用持续上升. 自2012年以来, operating expenses have increased 18.7%. The vast majority of this increase is driven by labor costs (direct and indirect), 监管要求和费用. Though proactive cost control measures can help to mitigate rising operating expenses, these factors will be of critical importance to the market’s continued viability in the years ahead.
- Chicago’s office buildings continue to shoulder a significant share of the property tax burden. 事实上, commercial properties pay over 36 percent of all property taxes collected in the City of Chicago, 其中办公楼支付了近一半. 此外, commercial buildings are assessed at a rate that is 250 percent of the rate of assessment for residential property, driving up their tax bills disproportionately as compared to residential. Property taxes – the highest recoverable expense for office buildings – have increased 34.4 percent since the 2012 经济影响研究.
- The current economic climate for Chicago property owners has a degree of uncertainty. 伊利诺斯州, Cook County and the City of Chicago continue to face pressures stemming from massive pension funding issues and a long-lasting budget stalemate in Springfield, the effects of which continue to impact the Chicago Public Schools, social and city services and various city and county pension systems.
前进, this report and the data contained within will be important tools for our government affairs efforts as we continue to advocate on your behalf. We encourage you to review the report and share any feedback or questions you may have with us.
博马/十大网赌靠谱网址平台 would like to thank the leadership of the 经济影响研究 Task Force, and the Communications and 税收 委员会 for seeing this important initiative through to fruition.