Office Rental Market
- $24.77 2019 Avg. Asking Rent
- 25.41 % 2019 Avg. Vacancy Rate
- 0 2019 Office Completions (Sqft)
- 27,500 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Itasca Class A Office Buildings$25.67
- Itasca Class B Office Buildings$22.76
- Itasca Class C Office Buildings$16.00
- IL Class A Office Buildings$35.57
- IL Class B Office Buildings$24.29
- IL Class C Office Buildings$18.50
Itasca, IL Office Asking Rents by Class
Office asking rents vary across the Itasca office market depending on several factors, one of which is property class. While rents for Class A office buildings in Itasca averaged $25.67 per square foot in 2019, Class B office properties garnered average rental rates of $22.76 per square foot. Rental rates for Class C office property in Itasca averaged $16.00 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 Itasca, IL
- Itasca, IL Total Sqft completed in 2019 0
- Itasca, IL Total Sqft under construction in 2020 27,500
Building name | Address | Total Sqft | Year built |
---|---|---|---|
One Pierce Place | 1 Pierce Place, 60143 | 525,422 | 1984 |
Two Pierce Place | 2 Pierce Place, 60143 | 485,566 | 1991 |
Hamilton Lakes Business Park - 500 Park Blvd | 500 Park Blvd, 60143 | 450,614 | 1980 |
Hamilton Lakes Business Park - 300 Park Blvd | 300 Park Blvd, 60143 | 220,070 | 1987 |
Hamilton Lakes Business Park - 150 Pierce Road | 150 Pierce Road, 60143 | 184,549 | 2002 |
Hamilton Lakes Business Park - American Academy of Pediatrics Headquarters | 345 Park Blvd, 60143 | 183,000 | 2017 |
Spring Lake Executive Campus | 234 Spring Lake Drive, 60143 | 174,492 | 1989 |
The Pointe at Itasca | 1100 North Arlington Heights Road, 60143 | 148,803 | 2000 |
Hamilton Lakes Business Park - 1250 North Arlington Heights Road | 1250 North Arlington Heights Road, 60143 | 130,934 | 1991 |
Hamilton Lakes Business Park - 1300 North Arlington Heights Road | 1300 North Arlington Heights Road, 60143 | 108,332 | 1999 |
Office building | Address | Sqft | Completed |
---|---|---|---|
870 North Arlington Heights Road | 870 North Arlington Heights Road, 60153 | 50,000 | 2020 |
Hamilton Lakes Business Park - American Academy of Pediatrics Headquarters | 345 Park Blvd, 60143 | 183,000 | 2017 |
Prospect Courtyards | 1101 North Prospect Avenue, 60143 | 33,920 | 2007 |
Hamilton Lakes Business Park - 150 Pierce Road | 150 Pierce Road, 60143 | 184,549 | 2002 |
The Pointe at Itasca | 1100 North Arlington Heights Road, 60143 | 148,803 | 2000 |
Hamilton Lakes Business Park - 1300 North Arlington Heights Road | 1300 North Arlington Heights Road, 60143 | 108,332 | 1999 |
425 Spring Lake Drive | 425 Spring Lake Drive, 60143 | 78,419 | 1996 |
1150-1162 Spring Lake Drive | 1150 Spring Lake Drive, 60143 | 40,000 | 1996 |
Two Pierce Place | 2 Pierce Place, 60143 | 485,566 | 1991 |
Hamilton Lakes Business Park - 1250 North Arlington Heights Road | 1250 North Arlington Heights Road, 60143 | 130,934 | 1991 |
Office Spaces for Rent in Illinois
See trends for nearby markets
The Itasca office market contains an inventory of 3,632,283 square feet of office space, in 41 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 Itasca 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.