2024 Office Space Rent & Sales
- $17.36 2024 Avg. Asking Rent
- 33.12% 2024 Office Vacancy Rate
Park Ridge office price per square foot in 2024 was $17.36 on average. The local office market recorded an average vacancy rate of 33.12% 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
Park Ridge, IL Office Asking Rents by Class
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 1300 Higgins Rd - O'Hare Corporate Centre | 1300 West Higgins Road, 60068 | 95,635 | 1988 |
| 1550 Northwest Highway | 1550 Northwest Highway, 60068 | 117,058 | 1978 |
| The Pinnacle at Park Ridge | 1440 Renaissance Drive, 60068 | 58,000 | 1975 |
| 422 N Northwest Highway | 422 N Northwest Highway, 60068 | 23,415 | 1975 |
| 2454 East Dempster Street | 2454 East Dempster Street, 60016 | 75,596 | 1973 |
| 1460 Renaissance Drive | 1460 Renaissance Drive, 60068 | 213,996 | 1972 |
| Renaissance Office Park | 1550 North Northwest Hwy, 60068 | 213,996 | 1972 |
| 1480 Renaissance Drive | 1480 Renaissance Drive, 60068 | 62,032 | 1970 |
| Park Ridge Office Center | 1400 Renaissanace Dr., 60068 | 60,780 | 1970 |
| 1580 Northwest Hwy | 1580 Northwest Hwy, 60068 | 55,772 | 1970 |
Worth noting among recent office completions on the Park Ridge market is 1300 Higgins Rd - O'Hare Corporate Centre, which is currently the largest new office development in the city, at 95,635 square feet.
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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 Park Ridge 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.