Itasca Office Market Trends

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)
In 2019, the average asking rent for office space in Itasca was $24.77 per square foot, and the office vacancy rate across the market averaged 25.41 %. During 2019, developers added 0 square feet of new office space to the Itasca market inventory. Office developments estimated for delivery during 2020 total 27,500 square feet.

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
10 Largest Office Buildings in Itasca
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
Largest Office Properties Recently Completed in Itasca
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
Data provided by Commercial Edge

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.