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Commercial Real Estate in Chicago, IL - 1,115 Properties Available

  • 500 West Madison Street - Chicago
    500 West Madison Street, West Loop, Chicago, IL 60661
    For Lease $24 - $30/Sqft/Year
    Property
    • Office
    Availability
    • 15 Spaces
    • 338,943 Sqft
  • 200 South Wacker Drive - Chicago
    200 South Wacker Drive, Chicago Loop, Chicago, IL 60606
    For Lease $25 - $28/Sqft/Year
    Property
    • Office
    Availability
    • 14 Spaces
    • 116,582 Sqft
  • One East Erie Street - Chicago
    1 East Erie Street, Near North Side Chicago, Chicago, IL 60611
    For Lease $36 - $38/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 18,392 Sqft
  • Boyce Building - Chicago
    500-520 North Dearborn Street, Near North Side Chicago, Chicago, IL 60610
    For Lease $21/Sqft/Year
    Property
    • Office
    Availability
    • 14 Spaces
    • 61,197 Sqft
  • 65 East Wacker Place - Chicago
    65 East Wacker Place, Chicago Loop, Chicago, IL 60601
    For Lease $20/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 9,477 Sqft
  • 311 South Wacker Drive - Chicago
    311 South Wacker Drive, Chicago Loop, Chicago, IL 60606
    For Lease Contact for pricing
    Property
    • Office
    Availability
    • 35 Spaces
    • 281,933 Sqft
  • Union Tower - Chicago
    550 West Van Buren Street, West Loop, Chicago, IL 60607
    For Lease $24/Sqft/Year
    Property
    • Office
    Availability
    • 9 Spaces
    • 59,662 Sqft
  • 200 West Adams Street - Chicago
    200 West Adams Street, Chicago Loop, Chicago, IL 60606
    For Lease $20 - $24/Sqft/Year
    Property
    • Office
    Availability
    • 15 Spaces
    • 113,094 Sqft
  • AMA Plaza - Chicago
    330 North Wabash Avenue, Near North Side Chicago, Chicago, IL 60611
    For Lease $23 - $32/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 6,528 Sqft
  • American Dental Association Building - Chicago
    211 East Chicago Avenue, Streeterville, Chicago, IL 60611
    For Lease $38/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 1,112 Sqft
  • The Suites Collection - Chicago
    101 West Grand Avenue, River North, Chicago, IL 60610
    For Lease Contact for pricing
    Property
    • Office
    Availability
    • 4 Spaces
    • 26,293 Sqft
  • 420 North Wabash Avenue - Chicago
    420 North Wabash Avenue, Near North Side Chicago, Chicago, IL 60611
    For Lease $21.5/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 28,706 Sqft
  • 645 North Michigan Avenue - Chicago
    645 North Michigan Avenue, Streeterville, Chicago, IL 60611
    For Lease $33 - $35/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 8,023 Sqft
  • 57 West Grand Avenue - Chicago
    57 West Grand Avenue, Near North Side Chicago, Chicago, IL 60610
    For Lease $33 - $34/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 28,954 Sqft
  • 122 South Michigan Avenue - Chicago
    122 South Michigan Avenue, Downtown Chicago, Chicago, IL 60603
    For Lease $34/Sqft/Year
    Property
    • Office
    Availability
    • 9 Spaces
    • 151,225 Sqft
  • 332 South Michigan Avenue - Chicago
    332 South Michigan Avenue, Downtown Chicago, Chicago, IL 60604
    For Lease $34/Sqft/Year
    Property
    • Office
    Availability
    • 22 Spaces
    • 96,769 Sqft
  • One South Dearborn Street - Chicago
    1 South Dearborn Street, Chicago Loop, Chicago, IL 60603
    For Lease $26 - $28/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 133,461 Sqft
  • 4124 South Racine Avenue - Chicago
    4124 South Racine Avenue, Back of the Yards, Chicago, IL 60609
    For Lease $5.75 - $6.95/Sqft/Year
    Property
    • Industrial
    Availability
    • 1 Space
    • 100,000 Sqft
  • 175 North Franklin Street - Chicago
    175 North Franklin Street, Chicago Loop, Chicago, IL 60606
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 6,232 Sqft
  • 4404 West Ann Lurie Place - Chicago
    4404 West Ann Lurie Place, Archer Heights, Chicago, IL 60632
    For Lease $7/Sqft/Year
    Property
    • Industrial
    Availability
    • 1 Space
    • 54,693 Sqft
  • 225 West Washington Street - Chicago
    225 West Washington Street, Chicago Loop, Chicago, IL 60606
    For Lease $18 - $25/Sqft/Year
    Property
    • Office
    Availability
    • 11 Spaces
    • 87,370 Sqft
  • 1165 North Clark Street - Chicago
    1165 North Clark Street, Near North Side Chicago, Chicago, IL 60610
    For Lease $17.5 - $21/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 9,702 Sqft
  • Two Illinois Center - Chicago
    233 North Michigan Avenue, Chicago Loop, Chicago, IL 60601
    For Lease $21 - $22/Sqft/Year
    Property
    • Office
    Availability
    • 21 Spaces
    • 324,981 Sqft
  • 55 West Monroe Street - Chicago
    55 West Monroe Street, Chicago Loop, Chicago, IL 60603
    For Lease $22 - $27/Sqft/Year
    Property
    • Office
    Availability
    • 26 Spaces
    • 103,255 Sqft
  • 230 West Monroe Street - Chicago
    230 West Monroe Street, Chicago Loop, Chicago, IL 60606
    For Lease $34/Sqft/Year
    Property
    • Office
    Availability
    • 33 Spaces
    • 134,638 Sqft

Chicago, IL Economic Overview

Location Photo

The City of Chicago - also known as the Windy City, the Second City and the City of Big Shoulders - is located along the shores of Lake Michigan and is home to nearly 3 million people, making it the third largest city in the U.S. Add to this the 7 million people that live in the suburbs and you've got an entire MSA ('Chicagoland' to the locals) of about 10 million residents. Chicagoland is a major business hub for almost any business you can think of - transportation, finance, manufacturing, technology, telecommunications, health care, education and more - all contributing to the area's gross annual product of over $640 billion. The Chicago commercial real estate market’s key to success is its diversity. 

The Chicago metropolitan business area is the third largest in the U.S. and is recognized as one of the world’s premier business destinations. The area's labor pool of nearly 4.5 million workers support its diverse economy. Chicago is a major world financial center and home to the Federal Reserve Bank of Chicago and Chase Bank’s commercial and retail banking headquarters. The city also houses 12 Fortune Global 500 companies, 17 Financial Times 500 companies, and a multitude of businesses in the retail, convention, medical, transportation, food processing, manufacturing, printing and publishing industries.

Chicago, IL Commercial Real Estate Market

Thanks to the city's multi-faceted transportation systems Chicago's business districts are varied and widespread. Also known as The Loop or Downtown, the central business district (CBD) itself consists of five sub-districts: CBD Central Loop, CBD East Loop, CBD West Loop, CBD South Loop, CBD North Michigan Avenue and CBD River North. Outside of the city-proper there are the suburban Chicago business districts of the East-West Corridor with Austin, North Chicago, South Chicago, North Suburban, Northwest Suburban, South Suburban, O'Hare, West Cook County and–while technically not in Illinois but still considered part of the Chicagoland area–the suburban business districts of Kenosha and Indiana. The Loop and suburban business districts combined encompass 450 million square feet of office space, 500 million square feet of retail space and 1.1 billion square feet of industrial space. Chicago is a major global distribution hub and is one of the major transportation hubs in the U.S. With its combination of expressways, regional and local mass transit systems, passenger and freight rail, multiple airports and the Port Authority, the city has become the third-largest intermodal port in the world, after Hong Kong and Singapore. Notable businesses with a significant presence in the Chicagoland area include Boeing, Kraft Foods, McDonalds, Caterpillar, Abbott Laboratories, Baxter International, Archer Daniels Midland, General Electric, Walgreens and Ace Hardware.

Chicago, IL Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Chicago, IL Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Chicago, IL Commercial Inventory Breakdown

Office Spaces

Total: 209,442,287 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 11,193,706 SF / 5.34% of total office
  • 100k to 500k SF: 55,932,590 SF / 26.71% of total office
  • 500k to 1M SF: 59,943,958 SF / 28.62% of total office
  • > 1M SF: 82,372,033 SF / 39.33% of total office

By class:

  • Class A+: 34,356,199 SF / 16.4% of total office
  • Class A: 95,754,978 SF / 45.72% of total office
  • Class B: 48,365,270 SF / 23.09% of total office
  • Class C: 1,178,736 SF / 0.56% of total office

Industrial

Total: 95,134,944 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 1,838,661 SF / 1.93% of total industrial
  • 100k to 500k SF: 63,040,952 SF / 66.26% of total industrial
  • 500k to 1M SF: 16,002,071 SF / 16.82% of total industrial
  • > 1M SF: 14,253,260 SF / 14.98% of total industrial

By class:

  • Class A: 15,655,592 SF / 16.46% of total industrial
  • Class B: 70,397,320 SF / 74% of total industrial
  • Class C: 4,390,704 SF / 4.62% of total industrial

Office Spaces with Retail

Total: 1,023,500 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 97,000 SF / 9.48% of total office with retail
  • 100k to 500k SF: 197,500 SF / 19.3% of total office with retail
  • 500k to 1M SF: 729,000 SF / 71.23% of total office with retail

Employment in Chicago, IL

Employment

Total employment in the Chicago MSA is nearly 4.5 million workers and is the third-largest labor pool in the U.S. Chicago's waterfront location along Lake Michigan, renowned public facilities such as Grant Park, the Lincoln Park Zoo, Navy Pier, championship sports teams such as the Chicago Cubs, the White Sox and the Chicago Bears, and countless theaters and clubs renowned for blues, jazz, ballet and symphony explain why the City of Chicago has no problem attracting an educated employment base that lives, works and plays here. 

Major employment sectors in Chicago include:

  • Financial services - The city is home to the Chicago Stock Exchange, the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and is headquarters for the Federal Reserve Bank of Chicago
  • Health services - Baxter International, Abbott Laboratories and GE Healthcare all have their headquarters in the MSA. The Chicago metropolitan area has several highly-ranked hospitals including Rush University Medical Center and the University of Illinois Medical Center at Chicago; and the country's premier academic medical centers of Northwestern Memorial Hospital and the University of Chicago Medical Center. Medical associations based in Chicago include the American Medical Association, American Dental Association, American College of Surgeons and the American Hospital Association.
  • Manufacturing, Transportation and Food Processing - United Airlines, Boeing, Kraft Foods, McDonalds, Caterpillar Inc., ThyssenKrupp, Archer Daniels Midland and Armour and Company all call the Chicagoland area home.
  • Retail - From its very beginning Chicago has been a nexus of retail development. Walgreens, Ace Hardware, ULTA Beauty and Crate & Barrel are all based in Chicago.

Chicagoland's diverse mixture of business combined with its world-renowned mass transit systems and reputation as a regional, national and international business hub help to ensure that the demand for commercial space in Chicago and residential housing grow year after year.

Education in Chicago, IL

The Chicago Public School system is made up of over 600 primary and secondary schools, and 11 selective admission magnet schools. Complementing the public system are faith-based and secular schools including the Latin School of Chicago, the Francis W. Parker School in Lincoln Park and the University of Chicago Laboratory Schools in Hyde Park.

For over 150 years, Chicago has been recognized worldwide as a leading center of post-secondary education. Notable universities include the University of Chicago, Loyola University, DePaul University, Northeastern Illinois University and the Illinois Institute of Art.

Commuting Time in Chicago, IL

Chicago is one of the metropolitan areas where a five-minute difference getting on the expressway can make a 30-minute commute turn into a 90-minute commute. Not only is there congestion from suburban commuters coming into the city and going back out at the end of the work day, but traffic will also back up commuting from one suburb to another. That's one reason why over 25% of the daily commuters in Chicagoland use some form of mass transit.

Chicago's Regional Transportation System oversees the operation of the three local mass transit systems:

  • The CTA (Chicago Transit Authority) manages public transportation within Chicago and a few of the adjoining suburbs, in addition to handling the rapid transit lines from Midway and O'Hare airports.
  • Metra is an 11-line commuter rail system that operates between Chicago and the suburbs and is the second-most used passenger rail system in the U.S.
  • Pace is a bus service operating among the 200 suburbs of Chicago with some service into the city as well

Chicago Demographics

Population

  • Total Population2,722,586
  • Male Population(48.5 %) 1,321,621
  • Female Population(51.5 %) 1,400,965
  • Median Age34.10

Income/Financial

  • Average Household Income$81,061
  • Median Household Income$52,497
  • Median Income Under 25$28,636
  • Median Income 25-44$62,974
  • Median Income 45-64$57,343
  • Median Income Over 65$32,465

News

A decade is a long time, and so much has occurred in our country and around the world in the last 10 years. In particular, rising real estate prices have been one of the prevailing themes throughout the 2010s. Coming off the heels of the Great Financial Crisis, the U.S. economy has trended upwar...

We analyzed the top 50 U.S. office deals of 2019, and the results show an increased investor appetite for trophy assets outside of New York City. In particular, it was Class A office spaces in California—particularly in the Bay Area—and Washington’s Seattle and Bellevue areas that attracted most...

When it comes to sustainable office buildings, there are plenty to choose from. We’ve picked 14 of the most eco-friendly commercial real estate offerings in the US. In no particular order, here they are: Tower 6 Allentown, Pennsylvania Architect: Spillman Farmer Architects With floor-to-ceiling ...

COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Chicago, IL. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 1112 square feet and 338943 square feet. Discover the right property from our 1115 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.