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

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$61,285.40 -0.1% +2.3%
-
Metro
$68,477.59 -0.8% +0.8%
-
County
$75,438.40 -0.9% +3.6%
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City
$85,213.37 -1.5% -1.8%

Current Chicago market trends data indicates a decrease of -1.5% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -1.8% compared to last year's prices. County-wide, asking prices for Multifamily properties are -0.9% lower at $75,438 per unit compared to the current median price of $85,213 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$93.41 +0.4% -0.6%
-
Metro
$102.43 0.0% -1.6%
-
County
$95.77 +1.4% -3.6%
-
City
$117.17 +0.0% -1.6%

Current Chicago market trends data indicates an increase of +0.0% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -1.6% compared to last year's prices. County-wide, asking prices for Office properties are 1.4% higher at $96 per sq ft compared to the current median price of $117 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$51.35 +0.7% +0.2%
-
Metro
$54.34 +0.9% +0.5%
-
County
$51.47 +0.7% +0.4%
-
City
$50.89 +0.9% -5.1%

Current Chicago market trends data indicates an increase of +0.9% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -5.1% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.7% 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

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$102.50 -0.4% -1.8%
-
Metro
$111.96 -1.8% -3.5%
-
County
$118.99 -1.5% -3.4%
-
City
$125.18 -0.8% -4.7%

Current Chicago market trends data indicates a decrease of -0.8% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -4.7% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -1.5% 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

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$70,043.97 +9.9% +20.9%
-
Metro
$70,180.77 +9.4% +21.1%

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Office Property Sale Prices - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$77.38 -0.4% +2.8%
-
Metro
$80.05 +1.6% +5.7%

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Industrial Property Sale Prices - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$50.30 +6.1% +21.5%
-
Metro
$50.58 +5.8% +21.4%

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Retail Property Sale Prices - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$83.78 -10.7% -0.1%
-
Metro
$83.87 -11.5% +6.1%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 +27.2% -20.0%

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Office Property Total $ Available For Sale - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
29 +0.5% -23.6%

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Industrial Property Total $ Available For Sale - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 -2.0% -34.1%

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Retail Property Total $ Available For Sale - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
41 +2.4% -23.4%

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Multifamily Property No. of Listings - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
33 +5.3% -21.2%

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Office Property No. of Listings - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -0.7% -21.6%

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Industrial Property No. of Listings - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
62 -3.7% -31.8%

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Retail Property No. of Listings - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 +2.4% -20.6%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
138 -0.2% +34.4%

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Office Property Profile Views (Demand) - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
148 +31.8% +73.7%

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Industrial Property Profile Views (Demand) - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
166 +10.2% +46.2%

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Retail Property Profile Views (Demand) - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
131 +6.2% +39.0%

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Office Property Total SF Available - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 +1.7% -17.8%

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Industrial Property Total SF Available - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
71 -4.3% -31.2%

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Retail Property Total SF Available - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
57 +6.4% -21.3%

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Multifamily Property No. of Units For Sale - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
24 +8.4% -37.3%

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Multifamily Property Days on Market - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
136 -7.5% -14.9%
-
Metro
133 -8.1% -11.0%

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Office Property Days on Market - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
238 -5.6% -1.5%
-
Metro
246 -3.5% +4.9%

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Industrial Property Days on Market - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
329 -2.1% +7.5%
-
Metro
322 -1.9% +12.6%

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Retail Property Days on Market - Sale Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
166 -8.1% +3.8%
-
Metro
197 -5.3% +10.6%

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Office Property Asking Rent - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$15.99 -0.2% 0.0%
-
Metro
$16.51 -0.2% +0.1%
-
County
$18.09 +0.3% +2.0%
-
City
$21.93 +1.3% +1.6%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Oct 14 was $21.93. This represents an increase of 1.3% compared to the prior 3 months, with an increase of +1.6% year-over-year. County-wide, average rental rates in Chicago are +0.3% higher at $18.09 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$6.73 +0.4% +0.1%
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Metro
$6.98 +0.5% +0.9%
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County
$7.34 +0.6% +0.5%
-
City
$6.54 +2.4% +2.3%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Oct 14 was $6.54. This represents an increase of 2.4% compared to the prior 3 months, with an increase of +2.3% year-over-year. County-wide, average rental rates in Chicago are +0.6% higher at $7.34 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
$15.28 +0.5% +0.6%
-
Metro
$16.07 +0.4% +0.8%
-
County
$18.17 +0.6% +1.8%
-
City
$21.74 +0.3% +1.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Oct 14 was $21.74. This represents an increase of 0.3% compared to the prior 3 months, with an increase of +1.7% year-over-year. County-wide, average rental rates in Chicago are +0.6% higher at $18.17 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
61 +1.1% -23.9%

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Industrial Property No. of Spaces - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -3.4% -31.0%

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Retail Property No. of Spaces - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
57 +1.2% -20.6%

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Office Property Profile Views (Demand) - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
287 +13.5% +43.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
244 +12.6% +52.1%

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Retail Property Profile Views (Demand) - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
177 +6.6% +31.6%

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Office Property Total SF Available - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -0.9% -27.6%

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Industrial Property Total SF Available - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
47 -5.4% -26.1%

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Retail Property Total SF Available - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 +4.6% -13.9%

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Office Property Days on Market - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
224 -4.5% +11.7%
-
Metro
219 -3.8% +10.6%

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Industrial Property Days on Market - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
203 +0.9% -24.9%
-
Metro
205 +4.7% -19.4%

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Retail Property Days on Market - Lease Trends

  Oct 14 vs. 3 mo. prior Y-O-Y
-
State
283 +3.5% +4.8%
-
Metro
285 +3.8% +2.3%