Chicago-area commercial property sales down 44% in 2023 – Crain’s*

Dealmaking in the Chicago area didn’t take quite as much of a hit as the nation overall, where sales dropped by 51% to about $347 billion as mismatched pricing expectations between buyers and sellers slowed activity, especially in the office sector. Nationally, there was a 32% drop in office sales volume in the fourth quarter of 2023 from the same time frame the previous year.