Naperville Office Market Trends

Office Rental Market

  • $22.44 2019 Avg. Asking Rent
  • 14.62 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Naperville was $22.44 per square foot, and the office vacancy rate across the market averaged 14.62 %. During 2019, developers added 0 square feet of new office space to the Naperville 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

  • Naperville Class A Office Buildings$19.79
  • Naperville Class B Office Buildings$23.78
  • Naperville Class C Office Buildings$18.97
  • IL Class A Office Buildings$35.57
  • IL Class B Office Buildings$24.29
  • IL Class C Office Buildings$18.50

Naperville, IL Office Asking Rents by Class

Office asking rents vary across the Naperville office market depending on several factors, one of which is property class. While rents for Class A office buildings in Naperville averaged $19.79 per square foot in 2019, Class B office properties garnered average rental rates of $23.78 per square foot. Rental rates for Class C office property in Naperville averaged $18.97 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 Naperville, IL

  • Naperville, IL Total Sqft completed in 2019 0
  • Naperville, IL Total Sqft under construction in 2020 0
10 Largest Office Buildings in Naperville
Building name Address Total Sqft Year built
Lucent Naperville Campus - 2000 Lucent Lane 2000 Lucent Lane, 60563 877,683 1974
1415 West Diehl Road 1415 West Diehl Road, 60563 819,513 2001
Lucent Naperville Campus - 1960 Lucent Lane 1960 Lucent Lane, 60563 516,000 2000
The Shuman 263 Shuman Blvd, 60563 354,000 1987
1200 East Warrenville Road 1200 East Warrenville Road, 60563 329,770 1981
Naperville Woods Office Center - 1000 East Warrenville Road 1000 East Warrenville Road, 60563 270,029 1988
Main Street Promenade 55 South Main Street, 60566 230,000 2003
Naperville Woods Office Center - 1100 East Warrenville Road 1100 East Warrenville Road, 60563 220,236 1981
1844 Ferry Road 1844 Ferry Road, 60563 213,443 1992
CityGate Centre - 2135 CityGate Lane 2135 CityGate Lane, 60563 211,000 2007
Largest Office Properties Recently Completed in Naperville
Office building Address Sqft Completed
1203 East Warrenville Road 1203 East Warrenville Road, 60563 120,000 2015
iMed Campus 1331 West 75th Street, 60540 72,141 2015
111 Shuman Blvd 111 Shuman Blvd, 60563 85,643 2010
Riverwoods Office Campus - Buildings B, C, D & E 620 North River Road, 60563 49,370 2008
Danada Professional Center 2323 Naperville Road, 60563 43,000 2008
CityGate Centre - 2135 CityGate Lane 2135 CityGate Lane, 60563 211,000 2007
Cantera Office Condominium 4200 Cantera Drive, 60555 69,230 2007
2244 95th Street 2244 95th Street, 60564 58,771 2006
Naperville Medical Office Building 808 Rickert Drive, 60540 47,635 2006
CityGate Centre - 2020 Calamos Court 2020 Calamos Court, 60563 180,000 2005
Data provided by Commercial Edge

Office Spaces for Rent in Illinois

NAPERVILLE OFFICE SALES TRENDS

  • $148.952019 Avg. Price per Sqft
  • -8.09 %Y-o-Y Avg. PpSF Change
  • $71.5M2019 Office Sales Volume
  • 72019 Number of Transactions

In 2019, office sales in Naperville averaged $148.95 per square foot. This marked a -8.09 % decrease in office price per square foot, compared to the previous year. A total of 7 office sales closed on the Naperville office market in 2019, amounting to a total sales volume of $71.5M.

Average Office Sale Price per Sqft

Naperville, IL Sales Trends

  • Naperville Price per Sqft$148.95
  • Illinois Price per Sqft$181.46

Office Sales - Trend and Volume

  • Naperville, IL Total Office Sales Volume in 2019 $71.5M
  • Naperville, IL Total Number of Office Sales Closed in 2019 7

Largest Naperville Office Sales in 2019

Property name Address Date Price
Washington Pointe 535 East Diehl Road 3/22/2019 $23,670,000
2940 Rollingridge Road 2940 Rollingridge Road 1/25/2019 $12,950,000
1717 Park Street 1717 Park Street 6/20/2019 $10,600,000
Naperville Medical Center 640 South Washington Street 4/4/2019 $9,250,000
1811 & 1815 West Diehl Road 1811 West Diehl Road 7/11/2019 $3,500,000
Data provided by Commercial Edge

See trends for nearby markets

The Naperville office market contains an inventory of 9,265,725 square feet of office space, in 115 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 Naperville 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.