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

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$61,319.55 +0.2% +1.0%
-
Metro
$67,981.22 -1.2% -0.6%
-
County
$74,654.13 -1.6% +0.6%
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City
$84,357.92 -2.2% -3.7%

Current Chicago market trends data indicates a decrease of -2.2% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -3.7% compared to last year's prices. County-wide, asking prices for Multifamily properties are -1.6% lower at $74,654 per unit compared to the current median price of $84,358 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$93.67 +0.6% -0.4%
-
Metro
$102.86 +0.5% -1.0%
-
County
$96.68 +1.5% -1.8%
-
City
$118.67 +2.3% +0.2%

Current Chicago market trends data indicates an increase of +2.3% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +0.2% compared to last year's prices. County-wide, asking prices for Office properties are 1.5% higher at $97 per sq ft compared to the current median price of $119 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$51.43 +0.5% +0.1%
-
Metro
$54.55 +1.0% +0.8%
-
County
$51.77 +1.1% +0.6%
-
City
$52.22 +3.4% -2.8%

Current Chicago market trends data indicates an increase of +3.4% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -2.8% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.1% higher at $52 per sq ft compared to the current median price of $52 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$102.73 +0.2% -1.8%
-
Metro
$112.45 -0.7% -3.8%
-
County
$119.32 -0.7% -3.0%
-
City
$125.04 -1.0% -2.6%

Current Chicago market trends data indicates a decrease of -1.0% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -2.6% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -0.7% 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

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$72,756.73 +12.2% +23.1%
-
Metro
$72,680.03 +11.4% +22.4%

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Office Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$80.69 +5.7% +5.2%
-
Metro
$81.17 +2.6% +5.6%

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Industrial Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$49.99 +3.0% +19.2%
-
Metro
$49.97 +2.2% +18.7%

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Retail Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$79.02 -13.8% -7.4%
-
Metro
$78.34 -15.1% -3.2%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 +19.4% -23.6%

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Office Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
29 +2.2% -23.9%

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Industrial Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -2.8% -34.2%

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Retail Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
42 +3.3% -22.7%

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Multifamily Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
33 +1.0% -23.9%

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Office Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -1.5% -23.0%

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Industrial Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
61 -4.3% -32.6%

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Retail Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 +0.8% -21.5%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
132 -11.0% +30.1%

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Office Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
134 +7.1% +65.7%

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Industrial Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
169 +11.2% +46.9%

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Retail Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
132 +4.3% +33.7%

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Office Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
51 +3.2% -17.3%

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Industrial Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
69 -5.3% -32.2%

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Retail Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
58 +6.6% -21.0%

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Multifamily Property No. of Units For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
25 +8.2% -35.1%

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Multifamily Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
134 -6.7% -12.5%
-
Metro
131 -6.9% -9.1%

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Office Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
234 -5.9% -5.4%
-
Metro
242 -4.8% +1.4%

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Industrial Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
326 -2.5% +4.8%
-
Metro
317 -3.3% +8.2%

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Retail Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
166 -5.8% +1.9%
-
Metro
193 -7.3% +7.9%

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Office Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$15.97 -0.2% -0.1%
-
Metro
$16.50 0.0% +0.1%
-
County
$18.13 +0.7% +2.3%
-
City
$22.10 +1.8% +2.5%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Nov 14 was $22.10. This represents an increase of 1.8% compared to the prior 3 months, with an increase of +2.5% year-over-year. County-wide, average rental rates in Chicago are +0.7% higher at $18.13 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$6.75 +0.5% +0.1%
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Metro
$7.00 +0.5% +0.9%
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County
$7.40 +1.5% +0.8%
-
City
$6.75 +5.6% +3.6%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Nov 14 was $6.75. This represents an increase of 5.6% compared to the prior 3 months, with an increase of +3.6% year-over-year. County-wide, average rental rates in Chicago are +1.5% higher at $7.40 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$15.32 +0.6% +0.9%
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Metro
$16.13 +0.8% +1.2%
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County
$18.27 +1.2% +2.3%
-
City
$21.86 +0.7% +1.6%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Nov 14 was $21.86. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +1.6% year-over-year. County-wide, average rental rates in Chicago are +1.2% higher at $18.27 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
61 +0.4% -24.2%

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Industrial Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
52 -3.1% -31.1%

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Retail Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
56 -0.2% -21.6%

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Office Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
279 +6.2% +45.2%

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Industrial Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
242 +9.2% +51.1%

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Retail Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
172 +0.7% +29.1%

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Office Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -1.8% -28.5%

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Industrial Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
46 -5.8% -26.4%

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Retail Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 +1.8% -15.2%

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Office Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
212 -10.1% +4.3%
-
Metro
207 -9.8% +3.1%

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Industrial Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
203 +1.7% -20.6%
-
Metro
206 +4.7% -13.6%

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Retail Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
287 +4.9% +9.8%
-
Metro
286 +3.9% +6.2%