Vacancies are high. Conversions are rising. Opportunities are out there—but only if you have the right data on hand.
Downtown Chicago's commercial real estate market is at a pivotal moment. The direct office vacancy rate has climbed to 24.8%, continuing its record-breaking streak for the 11th consecutive quarter, according to CBRE. Class B and C buildings are feeling the pressure most acutely, with total vacancy now sitting at a staggering 32%. As landlords navigate shifting tenant preferences and mounting financial pressure, accurate building documentation is no longer a nice-to-have—it’s a necessity.
The Hidden Cost of Missing Floor Plans
Nearly two out of five commercial real estate professionals report a lack of confidence in the accuracy of their floor plans. It’s easy to understand why: outdated documentation, manual updates, and limited technology adoption all contribute to errors, inconsistencies, and lost time. Even something as seemingly small as a mislabeled utility room can lead to inaccurate cost estimates, missed leasing opportunities, and delayed renovations.
Nowhere is this truer than in Chicago, where many of the city’s Class B and C buildings were constructed nearly a century ago. These charming vintage spaces often come with quirks that only an accurate scan can capture. Variances in floor flatness, visible ductwork, oddly placed utility closets, and low ceiling beams are equal opportunity offenders in the creation of modern layouts. These structural nuances are part of the city's character, but they also underscore the need for up-to-date documentation that goes beyond blueprints from the 1980s.
And as city officials increasingly support office-to-residential conversions, particularly for older Tier 1 properties, reliable scans help developers assess feasibility and plan adaptive reuse more effectively.
Sources: [1] Commercial Search, Chicago Office Market Faces a Bumpy Start in 2025, 2025 [2] Chicago Sun Times, "Offices in the Loop and beyond are being converted to apartments. Can the city do more?, 2025 [3] Commercial Cafe, What Are the Top U.S. Cities for Office Conversion?, 2024
What 3D Scanning Brings to the Table
High-precision 3D scanning solves these challenges by providing real-world data of a property’s existing conditions, or “as-builts.” Scanning tools capture every surface, beam, and bend—delivering floor plans, 2D CAD drawings, Revit models, and virtual walkthroughs that serve multiple business applications.
Key Benefits Include:
- Faster Leasing Cycles: With immersive 3D tours, remote tenants can explore spaces without ever setting foot on-site.
- Accurate As-Builts: Trustworthy documentation helps teams coordinate with architects, contractors, and stakeholders.
- Efficient Renovations: Avoid rework and surprise costs by understanding every nuance before a buildout begins.
- Better Appraisals and Refinancing Support: Updated documentation is a must for evaluating value and securing funding.
3D scanning is also a key differentiator for buyers and sellers navigating distressed assets. As Chicago led the nation in distressed office transactions in 2024, accurate rentable square footage (RSF) data has never been more critical for transparent valuations and retrofit planning.
Chicago-Specific Pressures Make Scanning a Must
Chicago’s Loop accounts for 42% of the city’s competitive office space, making it the heartbeat for CRE activity. But many buildings in this district fall into the aging Class B/C categories that are struggling to retain or attract tenants amid a broader “flight to quality” trend toward newer buildings.
In this high-stakes market, converting underutilized properties into high-performing spaces—whether leased or repurposed for residential use—requires reliable data from the start. 3D scanning delivers the detailed insights needed to make smart decisions for corporate buildouts and office to loft conversions alike.
Building a Smarter, More Transparent Future
Beyond immediate leasing and renovation needs, 3D scanning is shaping a more data-driven CRE industry. Laser scanning and BIM technology offer:
- Clearer visualizations for stakeholders.
- Informed change management based on real conditions.
- Streamlined communication across teams.
From lease administration and HVAC planning to adaptive reuse projects and sustainability upgrades, these tools help teams avoid guesswork and move forward with confidence.
Need a Floor Plan? Cushing Has You Covered
If you’re working in commercial real estate, now is the time to obtain your building’s floor plan. Cushing offers Matterport scanning and LiDAR Point Cloud scanning services to create detailed, real-world building data. Whether you’re planning a fit-out, preparing for an appraisal, pursuing an office-to-residential conversion, or marketing to remote tenants, our team is here to support your next step.
