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River North and the West Loop feature some of the most enviable office locations in Chicago. The office space in River North is primarily Class A+, loft space, and coworking space that averages 5,000 SF. Median rents are approximately $35/SF in older buildings as much of the new construction focuses on low to mid-rise, high-end residential properties. There is also a growing availability of first-floor retail space in much of the new construction. West End properties feature office space that ranges from smaller facilities to expansive 500,000 SF spaces. Rents average $40 SF for older properties and $75 SF gross for higher-end newer construction. Price points have risen dramatically in the last few years as vacancy rates have dwindled down to single digits. Parking in this professional area is in-building and runs expensive relative to other areas in Chicago.
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Neighborhood | Average Available SQFT | Average Rate / SQFT PER Month | NUMBER OF AVAILABLE SUITES |
---|---|---|---|
Aurora | 1,800 | $1.55 / SF | 75 |
Bolingbrook | 2,100 | $1.40 / SF | 48 |
Boystown | 1,200 | - | < 30 |
Central Loop | 2,100 | $2.47 / SF | 1,089 |
Chinatown | 3,300 | $1.81 / SF | < 30 |
Cicero | 6,900 | $1.08 / SF | < 30 |
Darien | 2,200 | $1.55 / SF | 527 |
Des Plaines | 1,900 | $1.60 / SF | 54 |
Downers Grove | 800 | $1.43 / SF | < 30 |
East Loop | 1,500 | $2.85 / SF | 636 |
East-West Corridor | 2,300 | $1.59 / SF | 556 |
Elgin | 2,000 | $1.22 / SF | 75 |
Elk Grove Village | 2,400 | $1.75 / SF | 431 |
Evanston | 1,200 | $2.06 / SF | 150 |
Fulton Market | 3,100 | $2.17 / SF | 314 |
Glen Ellyn | 2,000 | $1.31 / SF | 123 |
Goose Island | 2,900 | $2.68 / SF | 63 |
Joliet | 1,000 | $1.49 / SF | 49 |
Lake View East | 1,200 | $1.67 / SF | < 30 |
Lake Zurich | 1,300 | $1.33 / SF | < 30 |
Lincoln Park | 1,600 | $2.33 / SF | 80 |
Little Italy | - | - | < 30 |
Magnificent Mile | 2,300 | $2.31 / SF | 411 |
McKinley Park | 3,100 | $1.59 / SF | 31 |
Mokena | 4,000 | $1.45 / SF | 34 |
Mount Prospect | 2,000 | $1.49 / SF | 253 |
Naperville | 2,200 | $1.48 / SF | 504 |
New East Side | 2,200 | $2.64 / SF | 1,972 |
Niles | 1,800 | $1.68 / SF | 556 |
North Michigan Ave | 2,200 | $1.87 / SF | 277 |
North West Suburbs | 2,400 | $1.63 / SF | 763 |
O'Hare | 1,800 | $1.72 / SF | 669 |
Oak Lawn | 1,800 | $1.51 / SF | < 30 |
Oak Park | 800 | $1.98 / SF | 51 |
Old Town | 4,600 | $2.58 / SF | < 30 |
Orland Park | 1,800 | $1.47 / SF | 83 |
Plainfield | 1,400 | $1.27 / SF | 54 |
Ranch Triangle | 3,800 | $2.67 / SF | < 30 |
River North | 2,400 | $2.35 / SF | 832 |
Rockford | 2,200 | $1.10 / SF | 69 |
Romeoville | 2,700 | $1.36 / SF | 49 |
Rosemont | 3,800 | $2.67 / SF | < 30 |
Schaumburg | 2,500 | $1.56 / SF | 488 |
Shorewood | 1,300 | $1.51 / SF | 68 |
Streamwood | 1,600 | $1.28 / SF | 260 |
Streeterville | 2,200 | $2.31 / SF | 630 |
University Village | - | - | < 30 |
Uptown | - | - | < 30 |
West Loop | 3,600 | $2.49 / SF | 498 |
Western Suburbs | 2,000 | $1.54 / SF | 1,130 |
Westmont | 1,600 | $1.51 / SF | 208 |
Wheaton | 2,800 | $1.60 / SF | 561 |
Woodridge | 2,600 | $1.60 / SF | 410 |