As new construction in Chicago slows, firms turn to remodeling

02/19/2009 | GlobeSt.com

The pace of new construction for offices and industrial spaces in Chicago has slowed significantly, and many construction firms are turning to remodeling projects instead. "The velocity of projects coming through is slower, which isn't a surprise to anyone, but there's still projects happening and leases that are getting done," said Bill Birck, president of Reed Construction. Many building owners are investing in capital improvements to attract new tenants in a competitive rental market.

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