Chicago, IL Commercial Real Estate
Built in one of the largest metro areas in the country and arguably the largest primary market in the midwestern United States, Chicago real estate holds a special place in the industry. Second City is home to iconic commercial properties that have repeatedly attracted sizeable national and international investment. It is also the main economic engine of a sprawling, well-connected metropolitan area, which fosters an inclusive business environment, ripe with opportunity for any commercial enterprise.See our listings
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The average rent for commercial real estate for lease in Chicago is $26.94 per square foot per year. There are currently 1,151 availabilities listed locally. Spaces range in size between 100 square feet and 652,000 square feet, and amount to a total of 23,233,142 square feet of commercial real estate for lease on the Chicago market, across all property types and construction grades.
1165 North Clark Street
4 Spaces / 12,496 Sqft
420 North Wabash Avenue
200 West Monroe Street
15 Spaces / 120,238 Sqft
209 West Jackson Blvd
5 Spaces / 19,005 Sqft
200 West Adams Street
14 Spaces / 90,943 Sqft
Ravenswood Professional Building
1 Space / 1,456 Sqft
111 North Canal Street
9 Spaces / 76,507 Sqft
One South Dearborn Street
5 Spaces / 133,461 Sqft
9 Spaces / 63,429 Sqft
Chicago Commercial Real Estate Market Stats
The City of Broad Shoulders is one of the country’s very first powerhouse investment markets and home to some of the world’s first skyscrapers. Commercial real estate in Chicago draws and builds on those strengths to this day. Uniquely positioned as the largest local economy in the midwestern U.S., the Chicago market offers unmatched connectivity by water, air, road, and rail. The city proper holds highly desirable office and retail locations, while the greater metropolitan area is home to one of the country’s most sought-after industrial markets.
Commercial space for lease in Chicago totals 23,233,142 square feet across all property types and building classes. A total of 1,998 commercial spaces are listed locally, with rents starting at $4.3 per square foot per year, and averaging $26.94 per square foot per year across the listing inventory. Rents for class A commercial property average $27.82 per square foot per year, while trophy assets command $31.26 per square foot per year, on average.
Space in properties graded B rent for an average of $27.57 per square foot per year, while class C commercial buildings average rents of $27.52 per square foot per year. Our Chicago listing inventory includes commercial spaces across 102 grade C properties, 656 class B buildings, 239 class A and 28 class A+ assets.
Commercial real estate news
From our blog
July 15, 2020
Lyda Hill Philanthropies and J. Small Investments recently announced their future-focused redevelopment plans for Pegasus Park. The project aims to boost the science and tech scenes in Dallas and turn the former ExxonMobil campus into a hub for innovation and social influence.Read more
July 7, 2020
Richmond, Va.-based commercial real estate investment firm Lingerfeld Commonwealth Partners (LCP) recently announced the sale of Buschwood III in Tampa, Fla., to fellow Virginia-based company Continental Capital Partners (CCP). The sale price was reported to be $10.35 million.Read more
July 3, 2020
Rexford Industrial Realty Inc., a real estate investment trust (REIT) focused on investing in and operating property in Southern California infill markets, recently completed the purchase of a five-property portfolio for $73.2 million. The acquisition incorporates 434,000 square feet of both value-add and institutional-quality assets.Read more