Per connectCRE, the overall downtown average gross asking rent fell 1.3%in the first quarter. Post pandemic, office workers wanting to still work from home has influenced the downtown office market. Additionally, the 2021 reassessment tax activity with substantial 2022 tax bill increases has portfolio managers of this class rethinking about hanging onto Illinois and downtown Chicago buildings. Between workers staying home and the assessor’s assessments jacked up, ( i.e. WATER TOWER Place and some other reported additional (15)-office building owners), many are leaving Chicago. This market faces a test of survivorship in the next 12 months, just like post 911. The rest of Cook County tax bills will go up if this market place cannot weather this storm by the lake.