Skokie Office Market Trends

Office Rental Market

  • $23.53 2019 Avg. Asking Rent
  • 15.97 % 2019 Avg. Vacancy Rate
  • 135,378 2019 Office Completions (Sqft)
  • 31,860 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Skokie was $23.53 per square foot, and the office vacancy rate across the market averaged 15.97 %. During 2019, developers added 135,378 square feet of new office space to the Skokie market inventory. Office developments estimated for delivery during 2020 total 31,860 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Skokie Class A Office Buildings$24.13
  • Skokie Class B Office Buildings$24.25
  • Skokie Class C Office Buildings$17.96
  • IL Class A Office Buildings$35.57
  • IL Class B Office Buildings$24.29
  • IL Class C Office Buildings$18.50

Skokie, IL Office Asking Rents by Class

Office asking rents vary across the Skokie office market depending on several factors, one of which is property class. While rents for Class A office buildings in Skokie averaged $24.13 per square foot in 2019, Class B office properties garnered average rental rates of $24.25 per square foot. Rental rates for Class C office property in Skokie averaged $17.96 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 Skokie, IL

  • Skokie, IL Total Sqft completed in 2019 135,378
  • Skokie, IL Total Sqft under construction in 2020 31,860
10 Largest Office Buildings in Skokie
Building name Address Total Sqft Year built
Old Orchard Towers 5202 Old Orchard Road, 60077 349,814 1981
Concourse Office Plaza 4709 Golf Road, 60076 293,160 1971
Illinois Science + Technology Park - 4901 Searle Pkwy 4901 Searle Pkwy, 60077 229,000 2012
5215 Old Orchard Road 5215 Old Orchard Road, 60077 210,126 1987
Illinois Science + Technology Park - 8045 Lamon Avenue 8045 Lamon Avenue, 60077 163,000 2012
Illinois Science + Technology Park - 8030 Lamon Avenue 8030 Lamon Avenue, 60077 135,378 2019
Illinois Science + Technology Park - 8025 Lamon Avenue 8025 Lamon Avenue, 60077 130,000 2012
Old Orchard Woods - Buildings A-C 9933 Woods Drive, 60077 126,518 1957
Old Orchard Woods - Buildings D-H 9811 Woods Drive, 60077 126,116 1964
Westmoreland Building 9933 Lawler Avenue, 60077 120,000 1967
Largest Office Properties Recently Completed in Skokie
Office building Address Sqft Completed
Lurie Children's Primary Care - Town & Country Pediatrics 3722 West Touhy Avenue, 60076 31,860 2020
Illinois Science + Technology Park - 8030 Lamon Avenue 8030 Lamon Avenue, 60077 135,378 2019
Illinois Science + Technology Park - 4901 Searle Pkwy 4901 Searle Pkwy, 60077 229,000 2012
Illinois Science + Technology Park - 8045 Lamon Avenue 8045 Lamon Avenue, 60077 163,000 2012
Illinois Science + Technology Park - 8025 Lamon Avenue 8025 Lamon Avenue, 60077 130,000 2012
NorthShore University HealthSystem Skokie Hospital - Ambulatory Care Center 9650 Gross Point Road, 60076 105,437 2012
5215 Old Orchard Road 5215 Old Orchard Road, 60077 210,126 1987
Gross Point Office Center 8930 Gross Point Road, 60077 55,512 1987
Touhy Office Plaza 5550 Touhy Avenue, 60077 50,156 1986
5700 Old Orchard Road 5700 Old Orchard Road, 60077 34,365 1986
Data provided by Commercial Edge

Office Spaces for Rent in Illinois

See trends for nearby markets

The Skokie office market contains an inventory of 2,875,217 square feet of office space, in 37 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 Skokie 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.