Downtown Chicago Office Space

Downtown Chicago

Office Space Market Report

Number of Listings (last 90 days)
371
Median Rate ($/sqft/yr)
$38
Median Size (sqft)
3,000
As of: July 22, 2017

Downtown Chicago Rates

On average, listings lease in the $30's per square foot per year. The Downtown Chicago region is experiencing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 4% rise in rent.

Compared to the rest of the Chicagoland market, the Downtown Chicago submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.

Downtown Chicago Listing Supply

In the last 90 days, 371 listings have been made available, so you'll want to check back regularly for new listings. About 149% of the office spaces in the Downtown Chicago are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are approximately 10 floors. Most buildings in this area were built in 1929 and are Class B.

Downtown Chicago Community

Market Report

Trends and status of the commercial real estate market in Downtown Chicago.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Chicago.
Research