2024 Office Space Rent & Sales
- $28.66 2024 Avg. Asking Rent
- -2.37% Y-o-Y Avg. Asking Rent Change
- 21.03% 2024 Office Vacancy Rate
Downers Grove office price per square foot in 2024 was $28.66 on average. This marked a -2.37% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.03% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Illinois Class A & A+ Office Space$29.95
- Illinois Class B Office Space$26.01
- Illinois Class C Office Space$22.42
Downers Grove, IL Office Asking Rents by Class
2024 Office Vacancy Rates in Downers Grove
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Eastern East-West Corridor | $28.39 | 21.72% |
| Western East-West Corridor | $23.82 | 24.78% |
Office Spaces for Rent in Illinois
Coworking Spaces in Illinois
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Dental Office Space | 3000 Woodcreek Dr Ste 130, 60515 | 36,000 | 2007 |
| Highland Landmark IV | 3050 Highland Parkway, 60515 | 260,852 | 2002 |
| Esplanade V | 3250 Lacey Road, 60515 | 163,624 | 2002 |
| Esplanade IV | 1901 Butterfield Road, 60515 | 278,285 | 1999 |
| Corridors II | 2655 Warrenville Road, 60515 | 149,896 | 1999 |
| Highland Landmark II | 3025 Highland Pkwy, 60515 | 277,814 | 1998 |
| Finley Point | 3333 Finley Road , 60515 | 223,771 | 1998 |
| Hospital Plaza Professional Building | 3800 Highland Avenue, 60515 | 21,154 | 1995 |
| Esplanade at Locust Point II | 3500 Lacey Road, 60515 | 584,000 | 1992 |
| Esplanade R&D | 3131 Woodcreek Drive, 60515 | 72,929 | 1991 |
Worth noting among recent office completions on the Downers Grove market is Dental Office Space, which is currently the largest new office development in the city, at 36,000 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Downers Grove commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.