Highlights
- The average rent for office space in Evanston is $47.47 per square foot, 8.74% higher compared to the previous year.
- The market’s vacancy rate stands at 19.88%, lower than the state average of Illinois, which is 24.54%.
2025 Office Space Rent & Sales
- $47.47 2025 Avg. Asking Rent
- 8.74% Y-o-Y Avg. Asking Rent Change
- 19.88% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Evanston?
Average asking rents for office space here stand at $47.47 per square foot. The local office market recorded an average vacancy rate of 19.88% in 2025, unchanged from 19.88% in 2024.
Evanston, IL Office Asking Rents by Class
What is the average office rent per square foot by property class in IL?
- Avg. Asking Rent Class A & A+$34.01
- Avg. Asking Rent Class B$25.49
- Avg. Asking Rent Class C$22.85
For comparison, the average rent for Class A and A+ office space in Illinois was $34.01 per square foot. The state-wide average for Class B space was $25.49 per square foot, and Class C office spaces averaged $22.85 per square foot.
Office Construction in Evanston, IL
What are the largest recent office completions in Evanston?
The largest recent office completion here is One Rotary Center at 368,767 square feet, completed in 1977. The next largest completions are One Rotary Center and 500 Davis Center.
| Office building | Address | SF | Completed |
|---|---|---|---|
| One Rotary Center | 1560 Sherman Avenue, 60201 | 368,665 | 1978 |
| 500 Davis Center | 500 Davis Street, 60201 | 125,285 | 1978 |
| One Rotary Center | 1560 Sherman Avenue, 60201 | 368,767 | 1977 |
| 820 Davis Street | 820 Davis Street, 60201 | 85,895 | 1974 |
| 2600 Gross Point Rd | 2600 Gross Point Rd, 60201 | 4,888 | 1956 |
| 1740 Ridge Avenue Office Building | 1740 Ridge Avenue, 60201 | 21,000 | 1951 |
| 1601 Simpson St | 1601 Simpson St, 60201 | 16,940 | 1940 |
| 1703 Darrow Ave | 1703 Darrow Ave, 60201 | 20,000 | 1927 |
| Downtown Evanston Office for Lease | 1316-1322 Sherman Ave, 60201 | 20,662 | 1924 |
| The Livery at 831 Chicago | 831 Chicago Avenue, 60202 | 18,490 | 1896 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.