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

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$59,851.53 -2.1% -0.4%
-
Metro
$65,886.48 -2.4% -2.1%
-
County
$71,763.47 -2.9% -0.4%
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City
$83,512.04 -1.6% +2.2%

Current Chicago market trends data indicates a decrease of -1.6% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +2.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are -2.9% lower at $71,763 per unit compared to the current median price of $83,512 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$95.13 +0.9% +2.0%
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Metro
$105.11 +1.4% +2.9%
-
County
$100.45 +2.6% +6.1%
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City
$127.43 +5.9% +8.5%

Current Chicago market trends data indicates an increase of +5.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +8.5% compared to last year's prices. County-wide, asking prices for Office properties are 2.6% higher at $100 per sq ft compared to the current median price of $127 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$52.10 +1.0% +2.9%
-
Metro
$55.64 +1.6% +4.3%
-
County
$53.59 +3.1% +5.5%
-
City
$56.58 +7.5% +9.7%

Current Chicago market trends data indicates an increase of +7.5% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +9.7% compared to last year's prices. County-wide, asking prices for Industrial properties are 3.1% higher at $54 per sq ft compared to the current median price of $57 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$104.58 +0.7% -0.2%
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Metro
$115.16 +1.5% -1.3%
-
County
$120.12 +0.0% -3.1%
-
City
$122.10 -1.4% -3.5%

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 -3.5% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.0% higher at $120 per sq ft compared to the current median price of $122 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$73,506.19 -1.5% +15.2%
-
Metro
$72,920.80 -1.9% +13.8%

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Office Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$83.39 -0.2% +7.8%
-
Metro
$78.90 -3.4% +2.2%

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Industrial Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$41.51 -9.7% -7.7%
-
Metro
$41.59 -10.1% -8.9%

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Retail Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$80.66 +6.6% -17.5%
-
Metro
$80.30 +7.9% -17.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 -8.7% -20.9%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 -4.7% -23.9%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -6.4% -35.5%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
41 -3.1% -20.4%

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Multifamily Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
29 -7.6% -22.5%

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Office Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 -4.7% -25.3%

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Industrial Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -6.2% -34.5%

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Retail Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -4.6% -24.5%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
157 +17.3% +18.7%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
132 +13.4% +3.1%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
180 +7.9% +1.5%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
144 +8.1% +12.4%

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Office Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -5.9% -19.9%

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Industrial Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
62 -7.2% -36.3%

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Retail Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -4.0% -22.2%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
22 -12.8% -21.0%

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Multifamily Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
143 +6.6% -0.7%
-
Metro
136 +5.0% -3.1%

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Office Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
257 +9.0% +1.6%
-
Metro
263 +9.5% +7.8%

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Industrial Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
312 -3.1% -4.6%
-
Metro
311 -1.0% -2.7%

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Retail Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
177 +6.0% +0.1%
-
Metro
191 +0.8% +0.7%

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Office Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$15.98 +0.3% +0.5%
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Metro
$16.54 +0.4% +0.7%
-
County
$18.31 +1.0% +2.9%
-
City
$22.37 +0.7% +3.9%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Mar 15 was $22.37. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +3.9% year-over-year. County-wide, average rental rates in Chicago are +1.0% higher at $18.31 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$6.84 +1.3% +1.6%
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Metro
$7.08 +1.0% +1.9%
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County
$7.52 +1.2% +2.8%
-
City
$7.00 +1.7% +11.0%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Mar 15 was $7.00. This represents an increase of 1.7% compared to the prior 3 months, with an increase of +11.0% year-over-year. County-wide, average rental rates in Chicago are +1.2% higher at $7.52 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$15.35 0.0% +1.4%
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Metro
$16.21 +0.4% +1.7%
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County
$18.38 +0.7% +2.3%
-
City
$22.04 +0.9% +1.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Mar 15 was $22.04. This represents an increase of 0.9% compared to the prior 3 months, with an increase of +1.7% year-over-year. County-wide, average rental rates in Chicago are +0.7% higher at $18.38 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
62 +1.5% -20.8%

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Industrial Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 -3.1% -32.1%

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Retail Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -0.5% -24.4%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
308 +16.1% +16.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
267 +14.0% +11.6%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
188 +14.7% -0.3%

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Office Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -0.8% -26.6%

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Industrial Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
45 -1.1% -28.9%

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Retail Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 +0.7% -18.0%

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Office Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
216 +5.2% -3.8%
-
Metro
212 +6.4% -4.2%

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Industrial Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
188 -3.8% -3.3%
-
Metro
189 -4.1% +2.5%

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Retail Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
281 -0.6% -1.1%
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Metro
277 -0.3% -0.1%