Project size distribution shift

Year-on-year data highlights a pronounced shift in project size distribution within the Chicago office market, driven by the continued decline of large-scale office projects and a growing concentration in smaller footprints. Projects over 50,000 SF have dropped sharply, from 38.0 percent in 2020 to just 15.0 percent in 2025, reflecting the scarcity of contiguous trophy blocks and a market increasingly shaped by hybrid work strategies.

While mid-size projects (25,000–50,000 SF) have remained relatively steady, increasing from 21.8 percent in 2022 to 26.0 percent in 2025, the most significant movement occurred in the 10,000–25,000 SF range, which rose from 19.0 percent in 2022 to 39.0 percent in 2025.

As the pipeline contracts, project activity has shifted toward smaller, opportunistic solutions that capitalize on available space. While large-scale developments remain limited, demand for high‑quality, right‑sized options is rising, creating opportunities for landlords to reposition assets and deliver amenity‑rich environments for smaller tenants.