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.

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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.

Near North Side Chicago
1165 North Clark Street
$17.5 - $21/Sqft/Year

1165 North Clark Street

1165 North Clark Street, Near North Side Chicago, Chicago, IL 60610
This attractive brick building offers access to Lincoln Park, Lake Shore Drive and many bus and subway routes.
Property
Office
Availability
4 Spaces / 12,496 Sqft
Near North Side Chicago
4000 South Racine Avenue, Back of the Yards
5 Spaces

420 North Wabash Avenue

420 North Wabash Avenue, Near North Side Chicago, Chicago, IL 60611
This loft building was renovated in 1984 and offers easy access to subway transportation. The largest space available has 14,480 Sqft and a rental rate of $21.5/Sqft/Year.
Property
Office
Availability
28,706 Sqft
Chicago Loop, Chicago
Office for Lease at 175 North Franklin Street
$33 - $36/Sqft/Year

200 West Monroe Street

200 West Monroe Street, Chicago Loop, Chicago, IL 60606
This building has reflective glass and stone walls and is located right in the heart of the financial community. There are 15 Office spaces available for lease at 200 West Monroe Street, Chicago, IL, 60606, totaling 120,238 Sqft.
Property
Office
Availability
15 Spaces / 120,238 Sqft
Chicago Loop, Chicago
209 West Jackson Blvd, Chicago Loop, Chicago, IL 60606
$34/Sqft/Year

209 West Jackson Blvd

209 West Jackson Blvd, Chicago Loop, Chicago, IL 60606
209 West Jackson Blvd is located at 209 West Jackson Blvd in the Chicago Loop neighborhood, with a rental rate of $34/Sqft/Year.
Property
Office
Availability
5 Spaces / 19,005 Sqft
Chicago Loop, Chicago
8725 West Higgins Road Office Space
$20 - $24/Sqft/Year

200 West Adams Street

200 West Adams Street, Chicago Loop, Chicago, IL 60606
The unique feature of this building is its four interior columns per floor, allowing a bay size of 200' x 50'. There are 1,106 office spaces for lease in the Chicago Loop neighborhood, totaling 10,252,785.16 Sqft of available office space.
Property
Office
Availability
14 Spaces / 90,943 Sqft
Ravenswood, Chicago
Retail for rent 1945 West Wilson Avenue
$35/Sqft/Year

Ravenswood Professional Building

1945 West Wilson Avenue, Ravenswood, Chicago, IL 60640
This building was completed in 1977 and features a total of 68,000 Sqft. There is 1 space available for lease, totaling 1,456 Sqft.
Property
Retail
Availability
1 Space / 1,456 Sqft
West Loop, Chicago
Retail space for lease
9 Spaces Available

111 North Canal Street

111 North Canal Street, West Loop, Chicago, IL 60606
There are 9 spaces available for lease at 111 North Canal Street, totaling 76,507 Sqft. The largest space available has 58,725 Sqft.
Property
Retail
Availability
9 Spaces / 76,507 Sqft
Chicago Loop, Chicago
One South Dearborn Street
$26 - $28/Sqft/Year

One South Dearborn Street

1 South Dearborn Street, Chicago Loop, Chicago, IL 60603
Glass and steel structure with stone and wood lobby. This building has recieved a "silver" rating by LEED/U.S. Green Building Council. There are 5 Office spaces available for lease.
Property
Office
Availability
5 Spaces / 133,461 Sqft
West Loop, Chicago
Union Tower
$24/Sqft/Year

Union Tower

550 West Van Buren Street, West Loop, Chicago, IL 60607
There are 6 Office spaces available for lease at 120 South Riverside Plaza, totaling 97,045 Sqft. The largest space available has 37,549 Sqft.
Property
Office
Availability
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

Industrial Deliveries Growth in 2020
Life Sciences & Biotech Hub Planned for Dallas Pegasus Park

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.

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Lingerfeld Commonwealth Sells Tampa Office Building
Lingerfeld Commonwealth Sells Tampa Office Building

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.

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Rexford Closes on $73M SoCal Infill Portfolio
Rexford Closes on $73M SoCal Infill Portfolio

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.

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