Highlights
- The average rent for office space in Vernon Hills is $21.80 per square foot, 27.54% higher compared to the previous year.
- The market’s vacancy rate stands at 16.33%, lower than the state average of Illinois, which is 24.54%.
2025 Office Space Rent & Sales
- $21.80 2025 Avg. Asking Rent
- 27.54% Y-o-Y Avg. Asking Rent Change
- 16.33% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Vernon Hills?
Average asking rents for office space here stand at $21.80 per square foot. The local office market recorded an average vacancy rate of 16.33% in 2025, unchanged from 16.33% in 2024.
Vernon Hills, IL Office Asking Rents by Class
What is the average office rent per square foot by property class in IL?
- Avg. Asking Rent Class A & A+$34.01
- Avg. Asking Rent Class B$25.49
- Avg. Asking Rent Class C$22.85
For comparison, the average rent for Class A and A+ office space in Illinois was $34.01 per square foot. The state-wide average for Class B space was $25.49 per square foot, and Class C office spaces averaged $22.85 per square foot.
What are the largest recent office completions in Vernon Hills?
The largest recent office completion here is 75 North Fairway Drive at 189,686 square feet, completed in 1996. The next largest completions are 440 North Fairway Drive and Continental Executive Parke.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 440 North Fairway Drive | 440 North Fairway Drive, 60061 | 113,000 | 2024 |
| Continental Executive Parke | 400 N Lakeview Pky, 60061 | 46,386 | 2000 |
| 75 North Fairway Drive | 75 North Fairway Drive, 60061 | 189,686 | 1996 |
| Continental Executive Parke | 565 Lakeview, 60061 | 86,122 | 1989 |
| One Hawthorn Place | 175 East Hawthorn Pkwy, 60061 | 84,779 | 1986 |
| Townline Medical Center | 6 E Phillip Rd, 60061 | 21,621 | 1986 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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.