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

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$61,359.98 +0.6% +3.6%
-
Metro
$69,003.24 +0.3% +3.6%
-
County
$76,485.42 +1.5% +9.5%
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City
$86,996.62 +0.8% +7.2%

Current Chicago market trends data indicates an increase of +0.8% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +7.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are 1.5% higher at $76,485 per unit compared to the current median price of $86,997 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$93.26 +0.9% -0.6%
-
Metro
$102.31 +0.4% -1.7%
-
County
$95.02 +1.6% -4.5%
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City
$115.88 -0.5% -3.6%

Current Chicago market trends data indicates a decrease of -0.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -3.6% compared to last year's prices. County-wide, asking prices for Office properties are 1.6% higher at $95 per sq ft compared to the current median price of $116 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$51.23 +0.6% -0.3%
-
Metro
$54.11 +0.6% -0.3%
-
County
$51.39 +1.0% -0.3%
-
City
$50.67 +0.3% -7.3%

Current Chicago market trends data indicates an increase of +0.3% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -7.3% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.0% higher at $51 per sq ft compared to the current median price of $51 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$101.87 -1.6% -2.3%
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Metro
$112.41 -2.0% -2.7%
-
County
$119.24 -2.2% -3.1%
-
City
$125.46 -1.2% -5.1%

Current Chicago market trends data indicates a decrease of -1.2% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -5.1% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -2.2% lower at $119 per sq ft compared to the current median price of $125 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$67,118.23 +5.2% +18.6%
-
Metro
$67,505.65 +5.4% +19.8%

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Office Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$75.52 -2.2% +0.8%
-
Metro
$79.26 +1.4% +5.0%

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Industrial Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$49.77 +7.0% +20.9%
-
Metro
$50.12 +7.0% +20.9%

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Retail Property Sale Prices - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$87.26 -8.0% +4.4%
-
Metro
$87.73 -8.6% +12.8%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
30 -2.2% +11.9%

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Office Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
28 -26.0% +1.2%

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Industrial Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 -25.4% -10.0%

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Retail Property Total $ Available For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 -22.3% +4.2%

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Multifamily Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
33 -19.3% +10.3%

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Office Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
51 -24.1% +6.4%

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Industrial Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
63 -27.4% -7.8%

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Retail Property No. of Listings - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 -22.4% +8.0%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
148 +19.1% +20.2%

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Office Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
145 +33.3% +39.4%

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Industrial Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
155 -4.1% +11.4%

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Retail Property Profile Views (Demand) - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
129 +7.9% +14.7%

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Office Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -24.0% +6.6%

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Industrial Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
72 -27.3% -5.2%

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Retail Property Total SF Available - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
56 -22.1% +4.6%

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Multifamily Property No. of Units For Sale - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
24 -17.5% -8.8%

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Multifamily Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
140 -5.8% -14.8%
-
Metro
136 -6.9% -11.1%

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Office Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
244 -4.4% +4.3%
-
Metro
251 -0.3% +9.6%

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Industrial Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
333 -0.8% +12.8%
-
Metro
327 -0.5% +18.5%

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Retail Property Days on Market - Sale Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
170 -5.7% +7.8%
-
Metro
202 -1.0% +14.7%

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Office Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$16.01 -0.1% -0.2%
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Metro
$16.51 -0.1% -0.2%
-
County
$18.04 +0.0% +1.2%
-
City
$21.78 +1.3% +0.9%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Sep 14 was $21.78. This represents an increase of 1.3% compared to the prior 3 months, with an increase of +0.9% year-over-year. County-wide, average rental rates in Chicago are +0.0% higher at $18.04 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$6.73 +0.5% +0.1%
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Metro
$6.97 +0.5% +0.7%
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County
$7.30 -0.1% -0.6%
-
City
$6.39 -1.1% -2.7%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Sep 14 was $6.39. This represents a decrease of -1.1% compared to the prior 3 months, with a decrease of -2.7% year-over-year. County-wide, average rental rates in Chicago are -0.1% lower at $7.30 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
$15.23 +0.5% +0.4%
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Metro
$16.00 +0.3% +0.5%
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County
$18.06 +0.4% +1.4%
-
City
$21.72 +0.5% +2.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Sep 14 was $21.72. This represents an increase of 0.5% compared to the prior 3 months, with an increase of +2.2% year-over-year. County-wide, average rental rates in Chicago are +0.4% higher at $18.06 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
61 -23.8% +1.5%

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Industrial Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -27.6% -7.1%

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Retail Property No. of Spaces - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
57 -23.1% +7.3%

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Office Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
269 +5.1% +8.3%

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Industrial Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
225 +1.0% +17.7%

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Retail Property Profile Views (Demand) - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
172 +3.1% +5.4%

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Office Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -25.1% -2.8%

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Industrial Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -26.5% -0.5%

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Retail Property Total SF Available - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -19.4% +15.4%

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Office Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
233 -0.8% +18.0%
-
Metro
227 +0.2% +17.1%

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Industrial Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
202 +1.8% -24.3%
-
Metro
201 +5.8% -21.6%

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Retail Property Days on Market - Lease Trends

  Sep 14 vs. 3 mo. prior Y-O-Y
-
State
278 +0.3% +0.1%
-
Metro
281 +1.2% -1.5%