Chicago, IL Office Space for Rent

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.