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)
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
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 |
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 |
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.