Amount of Elmhurst's Vacant Space Not A 'Calamity'

Elmhurst IL

20 October, 2020

9:13 AM

Description

ELMHURST, IL — Elmhurst has its share of vacant retail and office space, but it's not at a "calamity" level, a city official said Monday. Now, downtown has 34,600 square feet of first floor retail space and 11,700 square feet of first floor office space available, said Erin Jason, the city's business development coordinator. Of the office space, more than 10,000 square feet is vacant because of the departure of Maddock Douglas, a consulting firm, she said. "They have been working remotely since March. They have already been downsizing over the last few years and have decided to fully divest themselves of having a home office," Jason said at a City Council meeting. Citywide, 131,000 square feet of retail space is vacant. This includes space at Elmhurst Crossing and "onesie-twosies" around town, Jason said. "This is not in any way, shape or form what I would consider a calamity number," Jason said. "We are in very good shape, especially compared to the rest of the Chicagoland region." She said she did not have the percentages of vacant retail and office space because the city has not tabulated the total amount. Alderman Michael Bram wondered about the future of office space, saying the pandemic may have led many businesses to conclude they do not need as much space as previously thought. Jason said she did not have a "concrete answer," but said large Chicago offices are looking for satellite offices in the suburbs. "Elmhurst is on the top of those lists from all the brokers we have spoken to," she said. "We've heard from several other office groups. They are still considering, 'What does this look like for us in six months?' They have, in most cases, two to three years left on their leases. It's kind of a puzzle piece."