Office Rent Determinants in the Chicago Area

Office Rent Determinants in the Chicago Area This paper analyzes 1990 office asking rents in the Chicago metropolitan area. It carefully specifies a measure of the present value of a lease, taking account of important properties of rent offers. This present value is the dependent variable in the statistical analysis. The sample data analyzed pertain to 543 offices that contain about 80% of the office space in the metropolitan area. The present value of asking rents is related to many building characteristics and to each building's location. The analysis demonstrates that asking rents depend on about fifteen characteristics of the building and on a careful specification of its location. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Economics Wiley

Office Rent Determinants in the Chicago Area

Real Estate Economics, Volume 20 (2) – Jun 1, 1992

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Publisher
Wiley
Copyright
Copyright © 1992 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1080-8620
eISSN
1540-6229
DOI
10.1111/1540-6229.00584
Publisher site
See Article on Publisher Site

Abstract

This paper analyzes 1990 office asking rents in the Chicago metropolitan area. It carefully specifies a measure of the present value of a lease, taking account of important properties of rent offers. This present value is the dependent variable in the statistical analysis. The sample data analyzed pertain to 543 offices that contain about 80% of the office space in the metropolitan area. The present value of asking rents is related to many building characteristics and to each building's location. The analysis demonstrates that asking rents depend on about fifteen characteristics of the building and on a careful specification of its location.

Journal

Real Estate EconomicsWiley

Published: Jun 1, 1992

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