State of the Commercial Real Estate Market – 2026 Q1
Wed Jan 07 2026
This episode marks a rare, in-depth market briefing directly from Gordon Lamphere, drawing on real transactions, real underwriting, and real negotiations happening across Chicagoland as we enter Q1 2026.
Learn More: https://www.vvco.com/state-of-the-commercial-real-estate-market-2026-q1-rfp-87/
After a year of conversations with developers, corporate occupiers, lenders, municipal leaders, and operators across every major asset class, listeners asked for something different. Not predictions. Not headlines. But a grounded, operator-level view of what is actually working, what is quietly breaking, and where capital is moving next.
This episode delivers that clarity.
Based on more than 100 completed transactions and active mandates across office, industrial, multifamily, industrial outdoor storage, land, and redevelopment, Gordon walks through how the Chicagoland commercial real estate market is no longer reacting to disruption, but reallocating with intent.
You will hear a detailed breakdown of:
Why office has stopped falling and started sorting, and what that means for Class A, B, and conversion-ready assets How industrial is normalizing unevenly, with power, labor, and infill now driving pricing more than square footageWhy multifamily is absorbing supply quietly and setting up for its next tightening cycleHow industrial outdoor storage has emerged as one of the most supply-constrained land uses in the regionWhere redevelopment math finally pencils again, and where it still does notMarkets We Cover: Chicago, Elk Grove Village, Evanston, Schaumburg, Vernon Hills, Highland Park, Waukegan, Naperville, Arlington Heights, Lake Forest, Lake Zurich
This is not a surface-level market recap. It is a framework for understanding where risk is becoming priceable again, where optionality matters most, and how sophisticated occupiers and investors are positioning for the next decade.
Subscribe to The Real Finds Podcast for ongoing insights grounded in real deals, real data, and real market dynamics.
Available on YouTube, Spotify, and all major podcast platforms.
More
This episode marks a rare, in-depth market briefing directly from Gordon Lamphere, drawing on real transactions, real underwriting, and real negotiations happening across Chicagoland as we enter Q1 2026. Learn More: https://www.vvco.com/state-of-the-commercial-real-estate-market-2026-q1-rfp-87/ After a year of conversations with developers, corporate occupiers, lenders, municipal leaders, and operators across every major asset class, listeners asked for something different. Not predictions. Not headlines. But a grounded, operator-level view of what is actually working, what is quietly breaking, and where capital is moving next. This episode delivers that clarity. Based on more than 100 completed transactions and active mandates across office, industrial, multifamily, industrial outdoor storage, land, and redevelopment, Gordon walks through how the Chicagoland commercial real estate market is no longer reacting to disruption, but reallocating with intent. You will hear a detailed breakdown of: Why office has stopped falling and started sorting, and what that means for Class A, B, and conversion-ready assets How industrial is normalizing unevenly, with power, labor, and infill now driving pricing more than square footageWhy multifamily is absorbing supply quietly and setting up for its next tightening cycleHow industrial outdoor storage has emerged as one of the most supply-constrained land uses in the regionWhere redevelopment math finally pencils again, and where it still does notMarkets We Cover: Chicago, Elk Grove Village, Evanston, Schaumburg, Vernon Hills, Highland Park, Waukegan, Naperville, Arlington Heights, Lake Forest, Lake Zurich This is not a surface-level market recap. It is a framework for understanding where risk is becoming priceable again, where optionality matters most, and how sophisticated occupiers and investors are positioning for the next decade. Subscribe to The Real Finds Podcast for ongoing insights grounded in real deals, real data, and real market dynamics. Available on YouTube, Spotify, and all major podcast platforms.