NAI Hiffman Announces Lease at Arlington Heights Office Campus
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Chicago capital flow has been concentrated in industrial along the I-55 and I-80 corridors and in the most select downtown trophy office submarkets. Multifamily transaction volume has moved up in the Near North and West Loop. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 84th Chicago story tracked on the wire in October 2026. All Chicago coverage →
- Disclosed office deal value tracked in October 2026: $21.4B across 63 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
NAI Hiffman represented a private ownership group in a 7,941-square-foot lease with Chicago Speech Therapy at 3436 N. Kennicott Avenue in Arlington Heights, Illinois. Chicago Speech Therapy, a provider of services for…
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