Please provide a location to search for

Office Space for Rent in Chicago, IL - 550 Listings

Chicago, IL - Office Space for Lease

Showing top 200 results

Chicago, IL Office Overview

Location Photo

The Chicago city proper real estate scene includes the Loop, South Loop, O'Hare, and Hyde Park commercial real estate submarkets. With a metropolitan population of over 7.3 million people, the economy of Chicagoland is firing on all cylinders and the Chicago commercial real estate market consistently sees strong office space demand from white collar employers in the financial services, engineering, publishing and food processing industries.

As of mid-2017, the Greater Chicagoland office market encompasses nearly 161 million square feet of existing office space, in properties larger than 50,000 square feet. As the most populous city in Illinois and the third-largest city in the U.S., the office market in Chicago is thriving on the robust demand for office space from the various business sectors that call the area home.

Chicago, IL Office Inventory Description

Chicago is a major world financial center and has one of the largest central business districts in the entire country. With a gross metropolitan product of just under $480 billion annually, the demand for office employment is powerful. Over 70% of the office space in Chicago is Class A, while Class B space adds another 29% of Chicago office inventory to the market.

The Loop, South Loop, O'Hare, and West Loop commercial real estate submarkets are some of the densest areas for Class A office space in Chicago, and are home to world-renowned trophy office properties such as 155 N. Wacker Drive, 440 South LaSalle, Two North Riverside Plaza, and U.S. Cellular Plaza on Bryn Mawr Avenue.

Chicago, IL Commercial Inventory Breakdown

Office Spaces

Total: 194,617,832 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 8,233,050 SF / 4.23% of total office
  • 100k to 500k SF: 48,307,827 SF / 24.82% of total office
  • 500k to 1M SF: 59,429,459 SF / 30.54% of total office
  • > 1M SF: 78,647,496 SF / 40.41% of total office

By class:

  • Class A+: 37,808,510 SF / 19.43% of total office
  • Class A: 88,278,532 SF / 45.36% of total office
  • Class B: 48,034,327 SF / 24.68% of total office
  • Class C: 263,736 SF / 0.14% of total office

Top 10 Largest Office Buildings

in Chicago

Office building Address Sqft Year built
Lincoln Yards NEC West Cortland Street & North Southport Avenue, 60614 6,000,000 n/a
Willis Tower - Renovation 233 South Wacker Drive, 60606 3,850,000 2019
Willis Tower 233 South Wacker Drive, 60606 3,800,000 1973
The Merchandise Mart 222 Merchandise Mart Plaza, 60654 3,563,120 1930
Aon Center 200 East Randolph Street, 60601 2,687,933 1972
The Post Office 433 West Van Buren Street, 60607 2,500,000 2019
Chase Tower 10 South Dearborn Street, 60603 2,429,909 1969
CME Center - 10 & 30 South Wacker 30 South Wacker Drive, 60606 2,351,265 1983
300 East Randolph 300 East Randolph Street, 60601 2,218,838 1997
The Richard J. Daley Center 50 West Washington Street, 60602 1,593,714 1965

Most Recently-Built Office Buildings

in Chicago

Office building Address Sqft Year built
150 North Riverside 150 North Riverside Plaza, 60606 1,178,471 2017
River Point 444 West Lake Street, 60605 1,081,702 2017
Fulton West 1330 West Fulton Street, 60607 286,800 2017
1901 West Madison Street 1901 West Madison Street, 60612 190,000 2017
900 West 900 West Randolph Street, 60607 91,000 2017
2017 North Mendell Street 2017 North Mendell Street, 60614 60,718 2017
Advocate Outpatient Center - Sykes 2535 South Martin Luther King Drive, 60616 55,000 2017
1929 South Halsted Street 1929 South Halsted Street, 60608 50,000 2017
The National 125 South Clark Street, 60603 527,000 2016
1901 West Carroll Avenue 1901 West Carroll Avenue, 60612 70,000 2016

Chicago, IL Green Office Space

Employment

Of the Top 30 Green Office Markets in the U.S., Chicago ranks #1 for energy efficient office buildings. While just over 6% of the office buildings larger than 50,000 square feet are LEED- certified, over 16% rank as Energy Star Certified and over 18% are recognized as green buildings.

The Merchandise Mart in Chicago is a stunning example of a LEED Gold-certified building: with over 3.5 million square feet of space, this Class A building was constructed in 1930 and has been updated to today's green energy office standards. As tenants, along with national and global investors seek out green certified office assets for both their use and portfolios, the green office trend will continue to grow in Chicago.

The 2017 National Green Building Adoption Index looked at commercial office properties in 30 major U.S. markets and found that, including EPA Energy Star-labeled buildings, the percentage of green certification has increased from under 5% in 2005 to 38% as of mid-2017. Chicago has placed 1st in this survey.

Chicago, IL's Top Office-Using Sectors

As a center for global business and finance, Chicago is considered one of the world's top financial centers, with the key industry sectors of financial services, food processing, and health care all creating a dynamic demand for Class A office space in the Chicagoland area.

  • Financial Services – Numerous banking, financial and insurance companies, such as the Federal Reserve Bank of Chicago, the Chicago Stock Exchange, and the Chicago Mercantile Exchange create a strong demand for Class A office space in Chicago.
  • Food Processing – Archer Daniels Midland, Armour and Company, and McDonalds are all headquartered in Chicago.
  • Health Care – The health care industry in Chicago makes a major contribution to the economy and provides significant demand for office space, with world-renowned businesses such as Baxter International, Abbott Laboratories, and the Healthcare Division of General Electric calling the city home.
  • Corporate Headquarters – The demand for white collar office space in Chicago also comes from companies such as Boeing, Kraft Heinz, and Caterpillar Inc., which are headquartered in the Chicagoland area.

Chicago Demographics

Population

  • Total Population2,717,534
  • Male Population(48.5 %) 1,318,494
  • Female Population(51.5 %) 1,399,040
  • Median Age33.70

Income/Financial

  • Average Household Income$74,003
  • Median Household Income$48,522
  • Median Income Under 25$25,664
  • Median Income 25-44$57,801
  • Median Income 45-64$51,808
  • Median Income Over 65$30,347

News

The Chicago office market is having a fruitful first half of the year, with the combined sales volume in Q1 and Q2 already surpassing last year’s overall performance, and totaling roughly $3.3 billion through June. According to data from Yardi Matrix, the dollar volume in the second quarter was ...

Traditional employment continues to fall short of meeting the needs of modern employees nationwide, and skilled innovative professionals choose to leave the traditional workforce and strike out on their own. Chi-town is certainly no exception. Whether it’s part-time or full-time, more and more “...

Chicago-based Golub & Co. announced that it is looking to expand its U.S. presence by establishing a second corporate location. The international real estate investment and development firm will open a regional office space in Denver, where operations will focus on acquisitions of office and...