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Office Space for Rent in Elk Grove Village, IL - 11 Listings

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Elk Grove Village, IL - Office Market Overview

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Elk Grove Village neighbors the Arlington Heights, Des Plaines, and Schaumburg commercial real estate markets. With a population of about 33,000 people, Elk Grove Village is part of the greater Chicago metro area, which is home to over 7.3 million residents. A deep blend of industrial, manufacturing, and data centers in the city help to create demand for a variety of office uses in Elk Grove Village.

As of mid-2017, the Elk Grove Village office market encompasses nearly 1.3 million square feet of existing office space in properties larger than 50,000 square feet. The city has easy access to the I-90, I-290, and the Elgin-O'Hare expressways, and is right next to O'Hare International Airport. Thousands of businesses are located in this small 5.4-square-mile city and help to create demand for commercial real estate in Elk Grove Village, IL.

Elk Grove Village, IL - Office Inventory Description

Elk Grove Village is home to the largest contiguous industrial park in the country, and the city contributes more than its share to the Chicagoland gross metropolitan product of nearly $480 billion annually. While the city is mainly industrial in nature, the demand for office space in Elk Grove Village is consistent. Nearly 70% of the office space in Elk Grove Village is Class B, while Class A or A+ office product brings another 30% of inventory to the market place.

Located along the I-290, the I-90, and the Illinois Route 390 Tollway, the largest office buildings in Elk Grove Village include the Alexian Brothers Medical Center - Biesterfield Road Medical Offices, the 25 Northwest Point office building, and the 1800 Nicholas Blvd building.

Elk Grove Village, IL Commercial Inventory Breakdown

Office Spaces

Total: 1,377,500 SF

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

By square footage range:

  • 50k to 100k SF: 102,330 SF / 7.43% of total office
  • 100k to 500k SF: 1,275,170 SF / 92.57% of total office

By class:

  • Class A: 617,118 SF / 44.8% of total office
  • Class B: 658,052 SF / 47.77% of total office
  • Class C: 102,330 SF / 7.43% of total office

Top 10 Largest Office Buildings

in Elk Grove Village

Office building Address Sqft Year built
100 Northwest Point Blvd 100 Northwest Point Blvd, 60007 234,000 1983
25 NW Point Blvd 25 NW Point Blvd, 60007 207,136 1989
Alexian Brothers Medical Center - Biesterfield Road Medical Offices 701 Biesterfield Road, 60007 189,718 1975
50 NW Point Blvd 50 NW Point Blvd, 60007 176,848 2000
Park at Northwest Point 150 Northwest Point Blvd, 60007 176,844 2000
MC Machinery Headquarters 85 NW Point Blvd, 60007 175,982 2017
141 Northwest Point Blvd 141 Northwest Point Blvd, 60007 114,642 1987
Woodland Square Medical Plaza 901 Biesterfield Road, 60007 52,000 1988
101 NW Point Blvd 101 NW Point Blvd, 60007 50,330 1990
Regent Office Center 1550 East Higgins Road, 60007 37,279 1976

Most Recently-Built Office Buildings

in Elk Grove Village

Office building Address Sqft Year built
MC Machinery Headquarters 85 NW Point Blvd, 60007 175,982 2017
50 NW Point Blvd 50 NW Point Blvd, 60007 176,848 2000
Park at Northwest Point 150 Northwest Point Blvd, 60007 176,844 2000
101 NW Point Blvd 101 NW Point Blvd, 60007 50,330 1990
25 NW Point Blvd 25 NW Point Blvd, 60007 207,136 1989
Woodland Square Medical Plaza 901 Biesterfield Road, 60007 52,000 1988
141 Northwest Point Blvd 141 Northwest Point Blvd, 60007 114,642 1987
100 Northwest Point Blvd 100 Northwest Point Blvd, 60007 234,000 1983
Regent Office Center 1550 East Higgins Road, 60007 37,279 1976
Alexian Brothers Medical Center - Biesterfield Road Medical Offices 701 Biesterfield Road, 60007 189,718 1975

Elk Grove Village, IL - Green Office Space

Employment

Across the country, tenants and professional real estate investors in the top U.S. markets are increasingly seeking out buildings with green office space. Over the last 12 years, the percentage of green certified office buildings, EPA Energy Star-rated, and LEED-certified office buildings has grown by about 33% across these top office markets. Conducted in 2017, the most recent National Green Building Adoption Index surveyed the top 30 office markets in the U.S. and discovered that the percentage of green office space across these top markets has grown from less than 5%, back in 2005, to about 38%, today. The City of Chicago proudly ranks #1 for adoption of energy-efficient green office buildings.

An excellent example of a LEED-certified office building near the Chicago suburb of Elk Grove Village is the Greenspoint Office Park - Greenspoint I. Located in the nearby Hoffman Estates commercial real estate market, this building was constructed in 1989 and contributes over 207,000 square feet of LEED Gold-certified office space to the Chicagoland area.

Elk Grove Village, IL's Top Office-Using Sectors

The Elk Grove Village commercial real estate market is driven by the top sectors of data processing, manufacturing & distribution, healthcare, and general corporate office users.

  • Data Processing – Automatic Data Processing, Inc. and R.R. Donnelley & Sons Company are two of the largest white-collar office employers in Elk Grove Village.
  • Manufacturing & Distribution – Illinois Tool Works, Symons, Pepsi Cola Distribution, and Metal Impact, LLC are a few of the larger manufacturing & distribution companies in Elk Grove Village.
  • Healthcare – Alexian Brothers Medical Center is the largest employer in this top office-using sector of Elk Grove Village.
  • Corporate Office – Topco, LA-CO Industries, and the American Academy of Pediatrics are all based in the city and help to drive the demand for commercial real estate in Elk Grove Village.

Elk Grove Village Demographics

Population

  • Total Population33,180
  • Male Population(49.8 %) 16,527
  • Female Population(50.2 %) 16,653
  • Median Age43.30

Income/Financial

  • Average Household Income$88,130
  • Median Household Income$73,214
  • Median Income Under 25$41,450
  • Median Income 25-44$80,815
  • Median Income 45-64$88,485
  • Median Income Over 65$46,412

News

Top 20 US Industrial Real Estate Deals of H1 2017

Top 20 US Industrial Real Estate Deals of H1 2017

August 28, 2017

  In the past few years, industrial markets across the country have been on the receiving end of increased interest, according to the latest market research reports. As the economy continues to shift towards modern industrial sectors, we thought we’d take a look at the top industrial deals close...