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

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$60,432.99 -1.4% -1.5%
-
Metro
$66,291.97 -3.2% -4.3%
-
County
$71,914.39 -4.7% -4.2%
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City
$82,482.49 -3.2% -4.5%

Current Chicago market trends data indicates a decrease of -3.2% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -4.5% compared to last year's prices. County-wide, asking prices for Multifamily properties are -4.7% lower at $71,914 per unit compared to the current median price of $82,482 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$94.74 +1.4% +1.1%
-
Metro
$104.05 +1.6% +1.0%
-
County
$98.88 +3.2% +1.9%
-
City
$122.92 +4.9% +2.2%

Current Chicago market trends data indicates an increase of +4.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +2.2% compared to last year's prices. County-wide, asking prices for Office properties are 3.2% higher at $99 per sq ft compared to the current median price of $123 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$51.86 +1.0% +1.7%
-
Metro
$55.05 +1.3% +2.7%
-
County
$52.40 +1.8% +2.6%
-
City
$53.48 +5.1% +0.8%

Current Chicago market trends data indicates an increase of +5.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +0.8% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.8% higher at $52 per sq ft compared to the current median price of $53 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$104.42 +1.9% -0.1%
-
Metro
$114.72 +2.5% -1.8%
-
County
$121.13 +1.8% -1.3%
-
City
$123.63 -1.2% -1.4%

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 -1.4% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 1.8% higher at $121 per sq ft compared to the current median price of $124 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$75,541.19 +7.7% +24.2%
-
Metro
$75,328.53 +7.2% +23.3%

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Office Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$84.61 +9.1% +8.1%
-
Metro
$81.36 +1.5% +4.7%

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Industrial Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$43.13 -14.0% -0.2%
-
Metro
$43.39 -13.9% -0.3%

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Retail Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$75.36 -9.7% -18.9%
-
Metro
$72.97 -12.6% -18.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
26 -14.8% -24.0%

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Office Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
29 +0.1% -22.5%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 -4.8% -34.1%

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Retail Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
42 +1.2% -20.1%

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Multifamily Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
31 -7.4% -21.3%

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Office Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -3.7% -23.7%

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Industrial Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
58 -6.7% -32.8%

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Retail Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
53 -4.7% -23.1%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
143 +3.8% +16.3%

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Office Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
119 -19.3% +7.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
169 +1.7% +10.3%

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Retail Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
136 +3.7% +7.9%

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Office Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 -1.6% -17.5%

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Industrial Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
65 -8.2% -34.0%

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Retail Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
58 +0.8% -21.0%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
24 +1.5% -18.7%

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Multifamily Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
135 -0.2% -7.2%
-
Metro
130 -1.7% -6.4%

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Office Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
239 +0.5% -3.0%
-
Metro
243 -1.3% +1.3%

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Industrial Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
316 -4.0% +0.6%
-
Metro
312 -3.2% +2.6%

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Retail Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
170 +2.3% +0.3%
-
Metro
188 -4.0% +4.5%

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Office Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$15.96 -0.2% +0.3%
-
Metro
$16.49 -0.1% +0.5%
-
County
$18.21 +0.6% +2.4%
-
City
$22.32 +1.8% +3.3%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Jan 15 was $22.32. This represents an increase of 1.8% compared to the prior 3 months, with an increase of +3.3% year-over-year. County-wide, average rental rates in Chicago are +0.6% higher at $18.21 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$6.77 +0.5% +0.7%
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Metro
$7.01 +0.4% +1.3%
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County
$7.47 +1.8% +2.3%
-
City
$6.98 +6.8% +10.5%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Jan 15 was $6.98. This represents an increase of 6.8% compared to the prior 3 months, with an increase of +10.5% year-over-year. County-wide, average rental rates in Chicago are +1.8% higher at $7.47 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$15.37 +0.6% +1.1%
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Metro
$16.16 +0.6% +1.2%
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County
$18.23 +0.3% +1.6%
-
City
$21.75 +0.1% +0.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Jan 15 was $21.75. This represents an increase of 0.1% compared to the prior 3 months, with an increase of +0.2% year-over-year. County-wide, average rental rates in Chicago are +0.3% higher at $18.23 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 -0.4% -22.5%

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Industrial Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 -2.9% -30.6%

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Retail Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -1.3% -23.4%

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Office Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
271 -5.7% +12.7%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
236 -3.7% +15.2%

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Retail Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
170 -4.0% +0.5%

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Office Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -2.5% -27.6%

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Industrial Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 -2.3% -27.2%

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Retail Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -1.7% -17.6%

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Office Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
206 -7.8% -1.2%
-
Metro
202 -7.5% -3.0%

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Industrial Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
187 -8.1% -9.9%
-
Metro
190 -7.2% -2.1%

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Retail Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
278 -1.6% +1.6%
-
Metro
272 -4.6% -0.2%