2022 Office Space Rent & Sales
- $26.39 2022 Avg. Asking Rent
- 4.35% Y-o-Y Avg. Asking Rent Change
- 10.07% 2022 Office Vacancy Rate
- $239.2M2022 Total Office Sales
- $224.47Avg. Sale Price/SF
Northbrook office price per square foot in 2022 was $26.39 on average. This marked a +4.35% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.07% across all asset classes combined. The 3 transactions that closed here throughout 2022 amounted to a total sale volume of $239.2M. Northbrook office space commanded an average sale price per square foot of $224.47.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Northbrook Class B Office Space$27.13
- Northbrook Class C Office Space$19.77
- Illinois Class A & A+ Office Space$34.19
- Illinois Class B Office Space$25.31
- Illinois Class C Office Space$19.07
Northbrook, IL Office Asking Rents by Class
2022 Office Vacancy Rates in Northbrook
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
North Shore - South | $26.99 | 20.29% |
North Shore - North | $21.76 | 22.12% |
Northbrook Office Sale Price per SF
- $224.472022 Avg. Price per SF
- $239.2M2022 Office Sales Volume
- 32022 Number of Transactions
Northbrook, IL Sale Price per SF Trend
- Northbrook Avg. Sale Price per SF in 2022$224.47
- Illinois Avg. Sale Price per SF in 2022$157.60
2022 Office Sales Volume
- Northbrook, IL Total Office Sales Volume in 2022 $239.2M
- Northbrook, IL Total Number of Office Sales Closed in 2022 3
Largest Northbrook Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Allstate Plaza North & South | 2775 Sanders Road | 10/19/2022 | $232,000,000 |
Caremark Towers - 2215 Sanders Road | 2215 Sanders Road | 6/13/2022 | $5,000,000 |
Caremark Towers - 2215 Sanders Road | 2215 Sanders Road | 12/22/2022 | $2,200,000 |
Coworking Spaces in Illinois
- Chicago Coworking Space
- Charlotte Coworking Space
- Nashville Coworking Space
- Columbus Coworking Space
- Indianapolis Coworking Space
- Raleigh Coworking Space
- Cincinnati Coworking Space
- Kansas City Coworking Space
- Alexandria Coworking Space
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- Memphis Coworking Space
- Durham Coworking Space
- Louisville Coworking Space
- St. Louis Coworking Space
- Milwaukee Coworking Space
- Omaha Coworking Space
- Cleveland Coworking Space
- Grand Rapids Coworking Space
- Ann Arbor Coworking Space
- Chattanooga Coworking Space
- Madison Coworking Space
Office building | Address | SF | Completed |
---|---|---|---|
Northbrook Executive Suites | 1363 Shermer Road, 60062 | 31,500 | 2006 |
Corporate Center of Northbrook - 1033 Skokie Blvd | 1033 Skokie Blvd, 60062 | 128,670 | 2001 |
Corporate Center of Northbrook - 1101 Skokie Blvd | 1101 Skokie Blvd, 60062 | 127,670 | 2000 |
4201 Lake Cook Rd | 4201 Lake Cook Rd, 60062 | 66,773 | 1989 |
Edens Corporate Center | 630-650 Dundee Road , 60062 | 187,509 | 1988 |
111 Pfingsten Rd | 111 Pfingsten Rd, 60062 | 125,000 | 1987 |
2100 Sanders Rd | 2100 Sanders Rd, 60062 | 106,167 | 1987 |
Boulevard 40 | 40 Skokie Blvd, 60062 | 105,972 | 1987 |
60 Revere Drive | 60 Revere Drive, 60062 | 116,000 | 1986 |
60 Revere Drive | 60 Revere Drive, 60062 | 116,000 | 1986 |
Worth noting among recent office completions on the Northbrook market is Northbrook Executive Suites, which is currently the largest new office development in the city, at 31,500 square feet.
See reports for other markets
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- Naperville Office Rent Price
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- San Francisco Office Rent Price
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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Northbrook 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.