Hoffman Estates Office Market Trends

Office Rental Market

  • $20.29 2019 Avg. Asking Rent
  • 10.87 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 1,511,593 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Hoffman Estates was $20.29 per square foot, and the office vacancy rate across the market averaged 10.87 %. During 2019, developers added 0 square feet of new office space to the Hoffman Estates market inventory. Office developments estimated for delivery during 2020 total 1,511,593 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Hoffman Estates Class A Office Buildings$24.01
  • Hoffman Estates Class B Office Buildings$18.51
  • Hoffman Estates Class C Office Buildings$17.03
  • IL Class A Office Buildings$35.57
  • IL Class B Office Buildings$24.29
  • IL Class C Office Buildings$18.50

Hoffman Estates, IL Office Asking Rents by Class

Office asking rents vary across the Hoffman Estates office market depending on several factors, one of which is property class. While rents for Class A office buildings in Hoffman Estates averaged $24.01 per square foot in 2019, Class B office properties garnered average rental rates of $18.51 per square foot. Rental rates for Class C office property in Hoffman Estates averaged $17.03 per square foot. On a statewide level, Class B office space rents averaged $24.29 per square foot, while rents for Class A office space across Illinois averaged $35.57 per square foot. On average, Class C office properties in Illinois commanded rents of $18.50 per square foot.

OFFICE CONSTRUCTION IN Hoffman Estates, IL

  • Hoffman Estates, IL Total Sqft completed in 2019 0
  • Hoffman Estates, IL Total Sqft under construction in 2020 1,511,593
10 Largest Office Buildings in Hoffman Estates
Building name Address Total Sqft Year built
3333 Beverly Road 3333 Beverly Road, 60192 2,421,114 1992
Bell Works Chicagoland 2000 West AT&T Center Drive, 60192 1,622,213 1985
Northwest Corporate Centre 2500 West Higgins Road, 60195 332,600 1985
St. Alexius Medical Center 1555 North Barrington Road, 60169 234,400 2004
Greenspoint Office Park - Greenspoint I 2800 West Higgins Road, 60169 207,002 1989
One Park Center 5595 Trillium Blvd, 60192 194,000 1998
Two Park Center 5550 Prairie Stone Pkwy, 60192 193,701 1998
CDK Global Headquarters 1950 Hassell Road, 60169 155,030 1986
Greenspoint Office Park - Greenspoint III 2895 Greenspoint Pkwy, 60010 150,603 2000
Greenspoint Office Park - Barrington Pointe 2300 North Barrington Road, 60169 149,473 1985
Largest Office Properties Recently Completed in Hoffman Estates
Office building Address Sqft Completed
NSK America Corporation Headquarters 1800 Global Pkwy, 60192 25,550 2011
Prairie Stone - 2815 Forbs Avenue 2815 Forbs Avenue, 60192 95,237 2008
2600 Forbs Avenue 2600 Forbs Avenue, 60192 90,000 2008
Amcol Headquarters 2870 Forbs Avenue, 60192 72,000 2008
Prairie Pointe Medical Building 4885 Hoffman Blvd, 60192 65,544 2008
Prairie Stone Corporate Center 5450 Prairie Stone Pkwy, 60192 109,878 2007
St. Alexius Medical Center 1555 North Barrington Road, 60169 234,400 2004
Greenspoint Office Park - Greenspoint III 2895 Greenspoint Pkwy, 60010 150,603 2000
Blackberry Falls 2353 Hassell Road, 60169 53,335 2000
One Park Center 5595 Trillium Blvd, 60192 194,000 1998
Data provided by Commercial Edge

Office Spaces for Rent in Illinois

See trends for nearby markets

The Hoffman Estates office market contains an inventory of 5,265,356 square feet of office space, in 51 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Hoffman Estates 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.