Absorption rate has finally started to shift towards to a buyers market recently, but even that is tricky with the oil price/market here.  

What I see is a ton of speculative office/R&D building in SV, increasing vacancy rates (part of the correction), and at least 6 straight quarters of declining net absorption (negative 930k SF in Q3).

Is there any companies that will do an Absorption report of a rental market in Michigan.  

We both had incredibly strong Decembers and are on pace to do well in January as well; right around 2004 numbers if I recall the graphs correctly.We have entered our first technical sellers market since the crisis and are experiencing some pretty incredible absorption rates in the lower price points ($80-120k or so).

Any idea what the projected absorption rates look like?

Occupancy rates around double digits, concessions, lowering net absorption, etc.. 

I figure on this one it will be about 2 to 3 years to sell out.. its not California absorption rates that's for sure.Have you been checking the infill lots in the burn areas of N SR ?  

Inventory of MFH saw a significant boost for the last several years and during the MFH boom in KC, we were adding double the historical absorption rate, but leasing maintained close pace.Seasonality is more important than property type, location, rate, or nearly any other factor. 

I cannot speak specifically about the IL market but most in the Boston market (my local market) and other fast growing areas, market absorption should be around 2-3 weeks or at least the first month of the listing even in slower markets. 

This is not cheap to fix, and often can be incurable in terms of getting your money back.It wasn't until recently really, in the 90's around here, where code started to require the foundation back-fill be stone, which has zero absorption/expansion properties, and will actually shift with the surrounding clay during the freeze.