ChicagoChart of the week: August 1, 2016

Source: JLL Research, * indicates more than one property covered at location point on map

High parking ratios in the Chicago suburban office market add value

• Mean occupancy rate is 3.67 percent higher and average weighted rent is $1.34 higher than the overall suburban averages for properties in each submarket with the highest parking ratios.

• Average weighted rent per square foot has a .37 positive correlation with parking ratio. O’Hare has the lowest correlation between rent and parking ratio, and the access to public transit may play a factor.

• The North submarket shows the strongest value proposition for an increased building parking ratio; properties with a 10:1 ratio command $9.58 more in rent than offices with lower parking ratios.

• Properties with 10:1 parking ratios include 1880 Oak Ave and 1033 University Pl in the North, and 300 Bauman Ct in the Northwest.

Top five properties by parking ratio by submarketParking ratio within property point

8*8

8

6

6

6

6

6

610

77

6

10

8

7

7

7

7

5

44

10