The central region has attracted a lot of attention from biomedical companies and semiconductor manufacturers.
The area – spanning around 20 states – has a low cost of living and an educated labor force. Combined with rail and highway access to the rest of the country, these states are attractive options. This is historically what turned cities like Chicago into key drivers of the national economy. We expect this to continue well into the next few years.
The Chicago market stands out thanks to the comparatively small role of the residential sector. Most of the new projects here are related to the commercial sector – several data centers are going up in areas around the city and a riverfront casino set to open in 2026. Expansions to O’Hare Airport and revitalization efforts on the city’s South and West Sides are also key drivers of the market.