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 14 vs. 3 mo. prior Y-O-Y
-
State
$60,991.86 +1.5% +4.6%
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Metro
$68,771.41 +2.1% +7.5%
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County
$75,319.05 +4.5% +14.3%
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City
$86,328.23 +5.6% +20.6%

Current Chicago market trends data indicates an increase of +5.6% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +20.6% compared to last year's prices. County-wide, asking prices for Multifamily properties are 4.5% higher at $75,319 per unit compared to the current median price of $86,328 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$92.43 -0.8% -2.4%
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Metro
$101.91 -0.3% -2.9%
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County
$93.51 -1.3% -6.5%
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City
$116.50 -0.8% -5.6%

Current Chicago market trends data indicates a decrease of -0.8% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -5.6% compared to last year's prices. County-wide, asking prices for Office properties are -1.3% lower at $94 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

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$50.93 +0.6% -0.8%
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Metro
$53.77 +0.8% -1.3%
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County
$50.90 +0.2% -1.1%
-
City
$50.52 -2.1% -9.0%

Current Chicago market trends data indicates a decrease of -2.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -9.0% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.2% 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

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$103.49 -1.2% +0.7%
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Metro
$114.64 -1.7% +1.0%
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County
$121.91 -1.7% +0.8%
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City
$127.02 +0.4% +0.7%

Current Chicago market trends data indicates an increase of +0.4% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +0.7% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -1.7% lower at $122 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 14 vs. 3 mo. prior Y-O-Y
-
State
$63,727.97 -0.1% +18.4%
-
Metro
$63,934.40 -0.3% +20.7%

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Office Property Sale Prices - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$77.21 -0.1% -2.6%
-
Metro
$78.13 +1.2% +0.7%

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Industrial Property Sale Prices - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$45.80 +1.8% +5.2%
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Metro
$46.48 +1.8% +6.8%

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Retail Property Sale Prices - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$95.26 -2.6% +9.2%
-
Metro
$96.20 -1.2% +19.7%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 -0.8% +13.3%

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Office Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
38 +5.4% +36.9%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
66 -4.0% +18.6%

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Retail Property Total $ Available For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 +3.2% +46.1%

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Multifamily Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 +7.6% +43.0%

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Office Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
67 +6.7% +41.5%

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Industrial Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
87 +2.1% +23.5%

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Retail Property No. of Listings - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
71 +4.0% +43.0%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
124 -6.3% +3.2%

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Office Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
109 -14.9% +10.4%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
161 -9.0% +22.7%

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Retail Property Profile Views (Demand) - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
119 -7.0% +11.5%

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Office Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
65 +9.9% +39.4%

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Industrial Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
99 +2.2% +30.3%

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Retail Property Total SF Available - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
72 -0.1% +41.4%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
29 +2.7% +28.5%

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Multifamily Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
148 +3.1% -4.4%
-
Metro
146 +4.3% -3.8%

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Office Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
254 +0.8% +14.9%
-
Metro
252 +3.4% +17.9%

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Industrial Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
334 +3.2% +13.2%
-
Metro
327 +3.5% +15.7%

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Retail Property Days on Market - Sale Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
181 +1.8% +9.0%
-
Metro
205 +7.1% +12.6%

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Office Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$16.02 +0.7% -0.3%
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Metro
$16.53 +0.6% +0.1%
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County
$18.03 +1.3% +1.9%
-
City
$21.50 -0.2% +1.5%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Jun 14 was $21.50. This represents a decrease of -0.2% compared to the prior 3 months, with an increase of +1.5% year-over-year. County-wide, average rental rates in Chicago are +1.3% higher at $18.03 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$6.69 -0.6% +0.3%
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Metro
$6.93 -0.2% +1.2%
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County
$7.31 -0.1% +0.1%
-
City
$6.46 +2.4% -6.6%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Jun 14 was $6.46. This represents an increase of 2.4% compared to the prior 3 months, with a decrease of -6.6% year-over-year. County-wide, average rental rates in Chicago are -0.1% lower at $7.31 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
$15.15 +0.1% +0.5%
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Metro
$15.94 +0.1% -0.2%
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County
$17.99 +0.1% +1.5%
-
City
$21.62 -0.3% +2.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Jun 14 was $21.62. This represents a decrease of -0.3% compared to the prior 3 months, with an increase of +2.7% year-over-year. County-wide, average rental rates in Chicago are +0.1% higher at $17.99 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
80 +2.9% +27.9%

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Industrial Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
74 0.0% +23.6%

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Retail Property No. of Spaces - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
74 +0.2% +39.8%

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Office Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
256 -3.7% -0.4%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
223 -6.9% +18.9%

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Retail Property Profile Views (Demand) - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
167 -11.5% +6.3%

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Office Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
72 +2.0% +22.1%

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Industrial Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
66 +3.0% +32.3%

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Retail Property Total SF Available - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
Metro
60 +2.2% +43.4%

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Office Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
233 +5.6% +9.4%
-
Metro
225 +3.1% +7.5%

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Industrial Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
198 +3.3% -19.7%
-
Metro
189 +5.6% -24.2%

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Retail Property Days on Market - Lease Trends

  Jun 14 vs. 3 mo. prior Y-O-Y
-
State
277 -2.2% -1.9%
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Metro
278 +0.3% -2.2%