Buffalo Grove Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $24.71 2024 Avg. Asking Rent
  • 33.64% 2024 Office Vacancy Rate

Buffalo Grove office price per square foot in 2024 was $24.71 on average. The local office market recorded an average vacancy rate of 33.64% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Illinois Class A & A+ Office Space$29.95
  • Illinois Class B Office Space$26.01
  • Illinois Class C Office Space$22.42

Buffalo Grove, IL Office Asking Rents by Class

2024 Office Vacancy Rates in Buffalo Grove

Submarket Asking Rents Vacancy Rates
North Shore - South $29.63 26.81%
North Shore - North $24.86 27.40%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Buffalo Grove market was 33.64% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Buffalo Grove was 26.81% in the North Shore - South submarket, while the highest office vacancy in the market was 27.40%, recorded in North Shore - North.

Office Spaces for Rent in Illinois

Coworking Spaces in Illinois

2024 Office Construction in Buffalo Grove, IL

Largest Office Properties Recently Completed in Buffalo Grove
Office building Address SF Completed
1450 Busch Parkway 1450 Busch Pky, 60089 64,860 2005
Millbrook Business Center - 485 East Half Day Road 485 East Half Day Road, 60089 133,267 2001
Riverwalk II 2100 East Lake Cook Road, 60089 258,995 1998
Riverwalk II 2100 East Lake Cook Road, 60089 258,995 1998
600 North Buffalo Grove Road 600 North Buffalo Grove Road, 60089 72,603 1998
Riverwalk I 2150 East Lake Cook Road, 60089 253,363 1990
Chevy Chase Business Park East - 1400 East Lake Cook Road 1400 East Lake Cook Road, 60089 39,133 1990
Buffalo Grove Business Park - 750 Lake Cook Road 750 Lake Cook Road, 60089 95,025 1989
Buffalo Grove Business Park - 1100 Lake Cook Road 1100 Lake Cook Road, 60089 96,731 1988
Lexington Point 100 Lexington Dr, 60089 23,572 1987

Worth noting among recent office completions on the Buffalo Grove market is 1450 Busch Parkway, which is currently the largest new office development in the city, at 64,860 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Buffalo Grove 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 Yardi Research Data can guarantee that the information provided is complete.