A multitude of Chicago office deals have fallen into place in rapid succession over the past several weeks after the sector spent months static.

Private capital is driving sales, and some buyers are emboldened by bargain-bin prices, an uptick in price discovery, and the convergence of seller and buyer expectations, office market observers told Bisnow.

Conditions are ripe for more deals to close as the year goes on — though major institutional players may still wait to see how the market progresses before making a move.

“It is a little bit of a domino effect. Like, once one fell, then the next and the next,” said Alissa Adler, senior vice president at Colliers.

Read more about why investors are warming up to Chicago offices and how sales could snowball.

— Katharine Carlon

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