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

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$59,925.27 -2.3% -2.4%
-
Metro
$65,490.64 -3.7% -4.7%
-
County
$70,560.02 -5.5% -4.6%
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City
$80,100.13 -5.0% -5.3%

Current Chicago market trends data indicates a decrease of -5.0% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -5.3% compared to last year's prices. County-wide, asking prices for Multifamily properties are -5.5% lower at $70,560 per unit compared to the current median price of $80,100 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$94.65 +1.1% +1.5%
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Metro
$104.25 +1.3% +1.7%
-
County
$99.27 +2.7% +4.1%
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City
$125.21 +5.5% +6.5%

Current Chicago market trends data indicates an increase of +5.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +6.5% compared to last year's prices. County-wide, asking prices for Office properties are 2.7% higher at $99 per sq ft compared to the current median price of $125 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$52.00 +1.1% +2.3%
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Metro
$55.36 +1.5% +3.6%
-
County
$53.23 +2.8% +4.3%
-
City
$55.39 +6.1% +5.5%

Current Chicago market trends data indicates an increase of +6.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +5.5% compared to last year's prices. County-wide, asking prices for Industrial properties are 2.8% higher at $53 per sq ft compared to the current median price of $55 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$104.31 +1.5% +0.3%
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Metro
$114.98 +2.2% -1.0%
-
County
$120.63 +1.1% -1.6%
-
City
$123.33 -1.4% -1.2%

Current Chicago market trends data indicates a decrease of -1.4% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -1.2% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 1.1% higher at $121 per sq ft compared to the current median price of $123 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$75,285.44 +3.5% +21.6%
-
Metro
$75,232.98 +3.5% +21.0%

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Office Property Sale Prices - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$84.90 +5.5% +9.7%
-
Metro
$80.80 -0.2% +5.2%

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Industrial Property Sale Prices - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$42.23 -13.0% -4.1%
-
Metro
$42.28 -13.0% -5.0%

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Retail Property Sale Prices - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$77.61 -1.4% -20.3%
-
Metro
$77.01 -1.2% -19.0%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 -19.2% -21.8%

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Office Property Total $ Available For Sale - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -2.8% -23.0%

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Industrial Property Total $ Available For Sale - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
45 -5.9% -35.2%

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Retail Property Total $ Available For Sale - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
41 -2.0% -19.9%

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Multifamily Property No. of Listings - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
30 -8.9% -21.1%

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Office Property No. of Listings - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 -5.3% -24.6%

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Industrial Property No. of Listings - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
57 -6.7% -33.7%

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Retail Property No. of Listings - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -6.0% -23.9%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
149 +12.7% +24.7%

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Office Property Profile Views (Demand) - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
125 -7.3% +0.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
169 -0.3% +2.4%

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Retail Property Profile Views (Demand) - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
136 +3.1% +9.0%

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Office Property Total SF Available - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -5.2% -18.3%

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Industrial Property Total SF Available - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
63 -8.4% -35.6%

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Retail Property Total SF Available - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
57 -2.3% -21.4%

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Multifamily Property No. of Units For Sale - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
22 -11.7% -21.1%

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Multifamily Property Days on Market - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
138 +2.7% -4.0%
-
Metro
132 +0.8% -5.2%

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Office Property Days on Market - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
246 +4.8% -1.5%
-
Metro
250 +3.2% +3.5%

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Industrial Property Days on Market - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
312 -4.7% -2.3%
-
Metro
311 -2.6% -0.2%

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Retail Property Days on Market - Sale Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
173 +4.4% -0.5%
-
Metro
189 -1.5% +2.9%

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Office Property Asking Rent - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$15.95 -0.1% +0.4%
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Metro
$16.50 +0.0% +0.6%
-
County
$18.26 +0.7% +2.9%
-
City
$22.32 +1.0% +3.4%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Feb 15 was $22.32. This represents an increase of 1.0% compared to the prior 3 months, with an increase of +3.4% year-over-year. County-wide, average rental rates in Chicago are +0.7% higher at $18.26 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$6.80 +0.8% +1.1%
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Metro
$7.04 +0.6% +1.5%
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County
$7.50 +1.4% +2.6%
-
City
$7.05 +4.4% +11.6%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Feb 15 was $7.05. This represents an increase of 4.4% compared to the prior 3 months, with an increase of +11.6% year-over-year. County-wide, average rental rates in Chicago are +1.4% higher at $7.50 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
$15.38 +0.3% +1.4%
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Metro
$16.17 +0.3% +1.3%
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County
$18.32 +0.2% +1.8%
-
City
$21.87 +0.0% +0.4%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Feb 15 was $21.87. This represents an increase of 0.0% compared to the prior 3 months, with an increase of +0.4% year-over-year. County-wide, average rental rates in Chicago are +0.2% higher at $18.32 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 +0.2% -21.3%

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Industrial Property No. of Spaces - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 -2.8% -31.3%

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Retail Property No. of Spaces - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -1.1% -23.9%

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Office Property Profile Views (Demand) - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
282 +1.3% +13.2%

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Industrial Property Profile Views (Demand) - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
242 +0.2% +10.8%

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Retail Property Profile Views (Demand) - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
174 +1.4% +0.0%

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Office Property Total SF Available - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -2.5% -27.0%

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Industrial Property Total SF Available - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 -0.9% -28.2%

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Retail Property Total SF Available - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -0.9% -18.0%

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Office Property Days on Market - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
210 -0.7% -2.7%
-
Metro
205 -0.5% -4.5%

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Industrial Property Days on Market - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
187 -7.8% -5.9%
-
Metro
190 -7.3% +1.6%

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Retail Property Days on Market - Lease Trends

  Feb 15 vs. 3 mo. prior Y-O-Y
-
State
276 -3.7% -1.9%
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Metro
271 -5.5% -1.9%