Chicago CRE professionals are nearly twice as gloomy about overall market conditions as they were last year, according to a new report finding just 4.4% are bullish on the state of the market.
Nearly 46% of real estate professionals say they are bearish on market conditions over the next six months, up from 23.7% a year ago. Including those describing themselves as bears, more than 82% said they were concerned, up from 65% last year, according to the 2023 Chicago Mid-Year Sentiment Report developed by the Real Estate Center at DePaul University and Urban Land Institute Chicago District Council.
The percentage of those…