Real estate experts have begun to notice significant improvements in retail real estate. Specifically, these experts have noticed that in top-tier cities like New York, L.A., and Chicago, the outlook for retail real estate is improving slowly but surely.
These cities and many others have seen positive absorption in the first quarter of 2011. Rental prices for retail buildings and units have been rising steadily in recent months, and business owners are beginning to notice increased shopping activity in these cities.
This is certainly good news for many of the Chicagoans who have been waiting with baited breadth for the retail sector to improve. Business owners and entrepreneurs have been delighted by this upswing in retail activity, and it only stands to reason that—as the weather continues to warm up, and more people take to the streets this summer—the retail climate in Chicago will continue to improve.
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