Chicago, IL Market Trends

Looking for more information on sold properties? Get the critical details you need on recent commercial property transactions days after the close of sale.

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Multifamily Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$62,068.83 +3.7% +1.8%
-
Metro
$67,458.54 +2.4% -1.9%
-
County
$72,969.57 +1.7% -3.1%
-
City
$83,564.53 +0.1% -3.2%

Current Chicago market trends data indicates an increase of +0.1% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -3.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are 1.7% higher at $72,970 per unit compared to the current median price of $83,565 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$95.01 -0.1% +2.8%
-
Metro
$106.23 +1.1% +4.2%
-
County
$102.26 +1.8% +9.4%
-
City
$130.54 +2.4% +12.1%

Current Chicago market trends data indicates an increase of +2.4% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +12.1% compared to last year's prices. County-wide, asking prices for Office properties are 1.8% higher at $102 per sq ft compared to the current median price of $131 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$52.67 +1.1% +3.4%
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Metro
$56.30 +1.2% +4.7%
-
County
$54.28 +1.3% +6.6%
-
City
$57.54 +1.7% +13.9%

Current Chicago market trends data indicates an increase of +1.7% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +13.9% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.3% higher at $54 per sq ft compared to the current median price of $58 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$108.09 +3.4% +4.4%
-
Metro
$118.58 +3.0% +3.4%
-
County
$124.31 +3.5% +2.0%
-
City
$127.07 +4.1% +0.0%

Current Chicago market trends data indicates an increase of +4.1% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +0.0% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 3.5% higher at $124 per sq ft compared to the current median price of $127 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$72,161.83 -1.9% +13.1%
-
Metro
$71,570.98 -2.0% +11.7%

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Office Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$78.13 -3.0% +1.2%
-
Metro
$73.66 -3.3% -5.7%

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Industrial Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$43.22 +4.1% -7.1%
-
Metro
$43.01 +3.4% -8.2%

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Retail Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$75.74 -6.1% -20.2%
-
Metro
$82.46 +2.2% -14.1%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
26 +6.0% -15.5%

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Office Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
29 +3.3% -25.4%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
41 -6.8% -37.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
39 -4.2% -26.1%

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Multifamily Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
33 +11.2% -19.9%

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Office Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 -0.4% -30.2%

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Industrial Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
55 -2.1% -37.1%

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Retail Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 -1.1% -28.2%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
124 -21.3% -0.3%

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Office Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
102 -22.9% -6.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
149 -17.3% -7.8%

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Retail Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
114 -20.6% -4.0%

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Office Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 0.0% -27.1%

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Industrial Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
59 -4.7% -40.6%

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Retail Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
53 -4.7% -25.8%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 +12.1% -13.8%

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Multifamily Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
148 +3.6% -0.3%
-
Metro
141 +3.5% -3.8%

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Office Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
266 +3.6% +4.2%
-
Metro
271 +2.8% +7.5%

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Industrial Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
325 +4.2% -3.2%
-
Metro
321 +3.2% -2.6%

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Retail Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
181 +2.0% +0.3%
-
Metro
195 +1.9% -4.8%

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Office Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$15.96 -0.1% -0.4%
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Metro
$16.52 -0.1% -0.1%
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County
$18.28 -0.2% +1.4%
-
City
$22.41 +0.2% +4.3%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Jun 15 was $22.41. This represents an increase of 0.2% compared to the prior 3 months, with an increase of +4.3% year-over-year. County-wide, average rental rates in Chicago are -0.2% lower at $18.28 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$6.93 +1.2% +3.5%
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Metro
$7.16 +1.2% +3.3%
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County
$7.62 +1.3% +4.3%
-
City
$6.88 -1.7% +6.5%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Jun 15 was $6.88. This represents a decrease of -1.7% compared to the prior 3 months, with an increase of +6.5% year-over-year. County-wide, average rental rates in Chicago are +1.3% higher at $7.62 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$15.26 -0.6% +0.7%
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Metro
$16.18 -0.2% +1.5%
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County
$18.43 +0.2% +2.4%
-
City
$21.88 -0.7% +1.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Jun 15 was $21.88. This represents a decrease of -0.7% compared to the prior 3 months, with an increase of +1.2% year-over-year. County-wide, average rental rates in Chicago are +0.2% higher at $18.43 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 -0.4% -23.3%

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Industrial Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -4.0% -34.8%

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Retail Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 +0.3% -24.3%

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Office Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
256 -16.9% +0.2%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
219 -18.0% -1.7%

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Retail Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
155 -17.9% -7.5%

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Office Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 -2.0% -29.5%

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Industrial Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -3.6% -33.5%

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Retail Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 +3.5% -17.0%

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Office Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
251 +16.5% +5.6%
-
Metro
249 +17.6% +8.5%

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Industrial Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
199 +4.2% +1.6%
-
Metro
195 -0.1% +2.5%

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Retail Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
314 +12.8% +13.2%
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Metro
322 +17.0% +15.5%