Report Shows Chicagoland Shopping Center Development has Dropped 79% in Last Two Years

For the second consecutive year, the sluggish U.S. economy has slowed development of new shopping centers in Chicagoland, according to an annual survey by Mid-America Real Estate Corporation, Oakbrook Terrace, Ill.

The Mid-America 2009-10 Shopping Center Report, released in January, shows that delivery of gross leasable area (GLA) for new Chicagoland shopping centers totaled 1.7 million sq ft in 2009, down 53% from 3.7 million sq ft. in 2008.