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)
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
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 |
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 |
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.