Chicago, IL Office Space for Rent
The Chicago office market has many aces up its sleeve. Being the largest top-tier market in the midwestern United States, Chicago real estate occupies a special place in the real estate investment industry. Its iconic river districts are home to iconic commercial office properties that have — more than once — drawn notable investment. What's more, Chicago is, unquestionably, the main economic engine of its vast and very well connected metropolitan area. By nurturing an inclusive, business-friendly environment, Second City maintains itself ripe with opportunity for any enterprise, be it small, growing, or already at considerable scale.See our listings
Recently added office space listings
Office space for rent in Chicago leases for an average of $28.46 per square foot per year. Currently, there are 2,537 vacancies listed locally, amounting to a total inventory of 28,404,764 square feet of Chicago market listings, across all asset classes. Spaces vary in size from 110 square feet to 652,000 square feet. Out of the total number of buildings with local listings, 96 are LEED-certified.
Two First National Plaza
12 Spaces / 53,865 Sqft
420 North Wabash Avenue
5 Spaces / 28,706 Sqft
57 West Grand Avenue
5 Spaces / 28,954 Sqft
55 West Monroe Street
28 Spaces / 127,043 Sqft
200 South Wacker Drive
15 Spaces / 119,283 Sqft
8 Spaces / 931,622 Sqft
9 Spaces / 63,429 Sqft
1165 North Clark Street
4 Spaces / 12,496 Sqft
212 West Superior Street
4 Spaces / 16,837 Sqft
Chicago Office Space Market Stats
Chicago is one of the country’s first investment powerhouses, as well as home to a few of the world’s first skyscrapers. Office properties in Chicago draw on that heritage to this day. Being the biggest local economy in the midwestern U.S., the Chicago market boasts unmatched connectivity by water, air, road, and rail. The city proper is home to highly desirable office and mixed-use real estate, including such highly valued submarkets as the West Loop and River North.
Office space for rent in Chicago totals 28,404,764 square feet across all building classes. A total of 2,537 spaces are listed locally, with rents starting at $6.00 per square foot per year, and averaging $28.46 per square foot per year across the listing inventory. Rental rates for class A office property average $28.13 per square foot per year, while trophy assets command an average of $31.26 per square foot per year.
Space in class B properties leases for an average of $28.25 per square foot per year, while class C office buildings get average rents of $27.52 per square foot per year. The Chicago listings inventory incorporates commercial spaces across 75 grade C properties, 382 class B buildings, 186 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