The Trump administration's plan to reduce federal office space and workforce raises concerns for Chicago's real estate market, where the government holds 19 properties and sizable leased spaces. Any reduction could affect the fragile downtown office market and deter potential buyers worried about purchasing vacant properties. Key assets like the John C. Kluczynski Federal Building may be at risk, but clarity from the U.S. General Services Administration regarding potential sales remains lacking, leaving investors anxious amid the uncertainty of potential federal shrinkage.
Investors like certainty, and there is way too much uncertainty right now, especially with the federal government's plans for downsizing and what that would mean.
The last thing Chicago needs right now are more vacant office buildings.
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