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

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$61,364.32 +2.7% +4.7%
-
Metro
$69,064.11 +2.5% +6.1%
-
County
$76,155.43 +4.4% +13.0%
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City
$86,470.99 +3.3% +14.3%

Current Chicago market trends data indicates an increase of +3.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +14.3% compared to last year's prices. County-wide, asking prices for Multifamily properties are 4.4% higher at $76,155 per unit compared to the current median price of $86,471 per unit for Multifamily properties in Chicago, IL.

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Office Property Asking Price Index - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$93.04 +0.4% -1.6%
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Metro
$102.43 +0.8% -2.3%
-
County
$94.45 +0.1% -5.8%
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City
$117.15 -0.1% -4.8%

Current Chicago market trends data indicates a decrease of -0.1% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -4.8% compared to last year's prices. County-wide, asking prices for Office properties are 0.1% higher at $94 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

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$51.01 +0.9% -0.7%
-
Metro
$53.85 +1.1% -1.0%
-
County
$51.09 +0.9% -0.9%
-
City
$50.45 -0.3% -8.6%

Current Chicago market trends data indicates a decrease of -0.3% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -8.6% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.9% higher at $51 per sq ft compared to the current median price of $50 per sq ft for Industrial properties in Chicago, IL.

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Retail Property Asking Price Index - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$102.96 -0.9% -0.7%
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Metro
$113.96 -1.0% -0.6%
-
County
$120.82 -1.2% -1.4%
-
City
$126.24 +1.3% -2.9%

Current Chicago market trends data indicates an increase of +1.3% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -2.9% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -1.2% lower at $121 per sq ft compared to the current median price of $126 per sq ft for Retail Commercial properties in Chicago, IL.

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Multifamily Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$63,498.35 -1.9% +16.7%
-
Metro
$63,784.40 -1.8% +18.4%

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Office Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$77.91 +0.9% +2.3%
-
Metro
$79.50 +2.7% +4.6%

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Industrial Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$47.24 +4.1% +9.9%
-
Metro
$47.69 +4.0% +10.4%

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Retail Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$94.09 -1.9% +9.9%
-
Metro
$95.00 -1.9% +21.2%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
24 -22.3% -13.7%

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Office Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
29 -23.1% +2.0%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -25.0% -10.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
40 -21.8% +9.2%

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Multifamily Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
31 -21.2% +10.0%

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Office Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -21.9% +6.2%

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Industrial Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
65 -25.0% -7.8%

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Retail Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -22.5% +8.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
138 +4.5% +20.8%

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Office Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
112 -7.9% +14.6%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
150 -17.3% +13.6%

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Retail Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
124 -1.7% +20.1%

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Office Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 -20.8% +4.3%

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Industrial Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
74 -24.1% -3.7%

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Retail Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -24.6% +4.0%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
22 -22.9% -5.3%

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Multifamily Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
147 +0.8% -8.3%
-
Metro
144 +0.8% -6.9%

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Office Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
251 -1.3% +14.4%
-
Metro
253 +2.8% +18.2%

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Industrial Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
335 +1.3% +16.6%
-
Metro
327 +1.0% +19.9%

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Retail Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
181 +0.8% +13.1%
-
Metro
208 +6.0% +18.7%

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Office Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$16.03 +0.6% -0.4%
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Metro
$16.54 +0.5% -0.2%
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County
$18.05 +1.1% +1.6%
-
City
$21.65 +1.0% +1.5%

The average asking rental rate per sq ft/year for Office properties in Chicago, IL as of Jul 14 was $21.65. This represents an increase of 1.0% compared to the prior 3 months, with an increase of +1.5% year-over-year. County-wide, average rental rates in Chicago are +1.1% higher at $18.05 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$6.70 -0.3% +0.3%
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Metro
$6.95 -0.1% +1.0%
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County
$7.29 -0.3% -0.2%
-
City
$6.38 -1.0% -7.5%

The average asking rental rate per sq ft/year for Industrial properties in Chicago, IL as of Jul 14 was $6.38. This represents a decrease of -1.0% compared to the prior 3 months, with a decrease of -7.5% year-over-year. County-wide, average rental rates in Chicago are -0.3% lower at $7.29 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$15.21 +0.4% +0.5%
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Metro
$16.00 +0.3% 0.0%
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County
$18.07 +0.2% +2.0%
-
City
$21.69 -0.6% +2.9%

The average asking rental rate per sq ft/year for Retail Commercial properties in Chicago, IL as of Jul 14 was $21.69. This represents a decrease of -0.6% compared to the prior 3 months, with an increase of +2.9% year-over-year. County-wide, average rental rates in Chicago are +0.2% higher at $18.07 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
60 -23.9% -2.5%

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Industrial Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
55 -26.4% -7.3%

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Retail Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
56 -24.7% +5.3%

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Office Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
253 -3.0% +2.2%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
217 -10.1% +20.4%

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Retail Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
166 -9.8% +8.1%

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Office Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -25.3% -7.9%

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Industrial Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -22.7% -0.9%

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Retail Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
46 -22.0% +9.3%

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Office Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
233 +2.6% +15.1%
-
Metro
226 +1.6% +13.8%

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Industrial Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
203 +6.2% -18.0%
-
Metro
196 +8.6% -21.9%

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Retail Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
273 -3.7% -2.2%
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Metro
275 -1.5% -1.7%