Mount Prospect Office Market Trends

Office Rental Market

  • $23.70 2019 Avg. Asking Rent
  • 12.51 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Mount Prospect was $23.70 per square foot, and the office vacancy rate across the market averaged 12.51 %. During 2019, developers added 0 square feet of new office space to the Mount Prospect market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Mount Prospect Class B Office Buildings$24.23
  • Mount Prospect Class C Office Buildings$12.31
  • IL Class A Office Buildings$35.57
  • IL Class B Office Buildings$24.29
  • IL Class C Office Buildings$18.50

Mount Prospect, IL Office Asking Rents by Class

OFFICE CONSTRUCTION IN Mount Prospect, IL

  • Mount Prospect, IL Total Sqft completed in 2019 0
  • Mount Prospect, IL Total Sqft under construction in 2020 0
10 Largest Office Buildings in Mount Prospect
Building name Address Total Sqft Year built
Lake Center Plaza 1699 Wall Street, 60056 147,500 1976
800 Biermann Court 800 Biermann Court, 60056 115,375 2002
111 East Busse Avenue 111 East Busse Avenue, 60056 90,889 1975
1600 East Bishop Court 1600 East Bishop Court, 60056 88,000 1991
Kensington Corporate Center I 1660 Feehanville Drive, 60056 87,453 1989
Kensington Business Park 1661 Feehanville Drive, 60056 85,955 1986
Northwest Community Health Medical Group at 199 199 West Rand Road, 60056 41,522 2007
1250 Feehanville Drive 1250 Feehanville Drive, 60056 37,750 1985
1699 Wall Street 1699 Wall Street, 60056 147,500 1976
111 East Busse Avenue 111 East Busse Avenue, 60056 70,889 1975
Largest Office Properties Recently Completed in Mount Prospect
Office building Address Sqft Completed
Northwest Community Health Medical Group at 199 199 West Rand Road, 60056 41,522 2007
800 Biermann Court 800 Biermann Court, 60056 115,375 2002
1600 East Bishop Court 1600 East Bishop Court, 60056 88,000 1991
Kensington Corporate Center I 1660 Feehanville Drive, 60056 87,453 1989
Kensington Business Park 1661 Feehanville Drive, 60056 85,955 1986
1250 Feehanville Drive 1250 Feehanville Drive, 60056 37,750 1985
Lake Center Plaza 1699 Wall Street, 60056 147,500 1976
111 East Busse Avenue 111 East Busse Avenue, 60056 90,889 1975
Data provided by Commercial Edge

Office Spaces for Rent in Illinois

See trends for nearby markets

The Mount Prospect office market contains an inventory of 763,939 square feet of office space, in 9 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 Mount Prospect 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.