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 16 vs. 3 mo. prior Y-O-Y
-
State
$64,278.69 -2.6% +7.3%
-
Metro
$73,415.97 +0.2% +12.1%
-
County
$82,715.76 +0.2% +17.2%
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City
$98,780.04 -0.3% +23.3%

Current Chicago market trends data indicates a decrease of -0.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +23.3% compared to last year's prices. County-wide, asking prices for Multifamily properties are 0.2% higher at $82,716 per unit compared to the current median price of $98,780 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$93.91 -0.5% -0.8%
-
Metro
$106.62 0.0% +2.3%
-
County
$107.05 +1.3% +7.8%
-
City
$138.96 +0.8% +11.0%

Current Chicago market trends data indicates an increase of +0.8% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +11.0% compared to last year's prices. County-wide, asking prices for Office properties are 1.3% higher at $107 per sq ft compared to the current median price of $139 per sq ft for Office properties in Chicago, IL.

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Industrial Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$53.06 +0.3% +2.0%
-
Metro
$57.17 +0.4% +3.3%
-
County
$54.49 +1.1% +2.4%
-
City
$60.22 +2.0% +8.7%

Current Chicago market trends data indicates an increase of +2.0% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +8.7% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.1% higher at $54 per sq ft compared to the current median price of $60 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$111.22 +1.0% +6.6%
-
Metro
$123.36 +1.3% +7.3%
-
County
$130.89 +1.5% +8.5%
-
City
$137.07 +3.7% +11.1%

Current Chicago market trends data indicates an increase of +3.7% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +11.1% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 1.5% higher at $131 per sq ft compared to the current median price of $137 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$78,571.31 -1.1% +4.9%
-
Metro
$79,574.93 -2.6% +6.8%

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Office Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$77.89 -19.8% -7.9%
-
Metro
$82.40 -12.9% +2.0%

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Industrial Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$48.28 -3.2% +14.3%
-
Metro
$50.47 -2.5% +19.4%

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Retail Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$82.38 +13.8% +5.4%
-
Metro
$88.74 +11.8% +14.9%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
27 -10.1% +9.4%

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Office Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
26 -3.8% -8.2%

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Industrial Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
38 -5.5% -16.9%

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Retail Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
41 +0.3% -1.4%

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Multifamily Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
30 -12.2% +1.7%

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Office Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
48 +0.3% +1.8%

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Industrial Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
50 -5.7% -11.6%

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Retail Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
49 -4.2% -4.7%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
141 +14.9% -5.7%

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Office Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
122 +15.0% -2.2%

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Industrial Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
178 +13.2% +5.6%

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Retail Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
129 +9.0% -5.3%

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Office Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
45 +0.3% -6.9%

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Industrial Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
55 -5.4% -13.2%

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Retail Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
52 -1.5% -8.7%

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Multifamily Property No. of Units For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
23 -13.8% +2.8%

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Multifamily Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
142 +1.5% +3.3%
-
Metro
137 +2.5% +3.6%

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Office Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
295 +1.4% +19.5%
-
Metro
288 +6.8% +14.2%

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Industrial Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
278 -9.8% -10.7%
-
Metro
276 -11.0% -11.0%

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Retail Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
163 +0.3% -5.8%
-
Metro
174 -2.6% -7.6%

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Office Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$16.20 +0.3% +1.5%
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Metro
$16.72 +0.3% +1.3%
-
County
$18.69 +1.1% +2.4%
-
City
$22.58 +1.3% +1.2%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Feb 16 was $22.58. This represents an increase of 1.3% compared to the prior 3 months, with an increase of +1.2% year-over-year. County-wide, average rental rates in Chicago are +1.1% higher at $18.69 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$7.00 -0.4% +2.9%
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Metro
$7.30 -0.2% +3.7%
-
County
$7.80 -0.5% +3.9%
-
City
$7.39 +0.2% +4.9%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Feb 16 was $7.39. This represents an increase of 0.2% compared to the prior 3 months, with an increase of +4.9% year-over-year. County-wide, average rental rates in Chicago are -0.5% lower at $7.80 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$15.29 +0.6% -0.6%
-
Metro
$16.44 +1.2% +1.6%
-
County
$18.95 +1.2% +3.5%
-
City
$22.73 +1.9% +3.9%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Feb 16 was $22.73. This represents an increase of 1.9% compared to the prior 3 months, with an increase of +3.9% year-over-year. County-wide, average rental rates in Chicago are +1.2% higher at $18.95 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
61 -1.5% +0.5%

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Industrial Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
46 -2.4% -8.5%

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Retail Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
56 -0.2% +1.2%

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Office Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
282 +11.3% -0.1%

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Industrial Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
262 +16.2% +8.2%

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Retail Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
195 +19.4% +12.1%

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Office Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
50 -3.3% -3.5%

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Industrial Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 +0.7% -8.1%

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Retail Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
50 +0.7% +4.7%

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Office Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
230 -3.9% +9.4%
-
Metro
233 -2.6% +13.3%

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Industrial Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
214 -1.4% +12.9%
-
Metro
211 -2.8% +9.0%

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Retail Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
316 0.0% +14.0%
-
Metro
321 +0.9% +19.2%