Elk Grove Village, IL Office Overview
Located in the greater Chicagoland area, roughly 20 miles northwest of Chicago, Elk Grove Village is home to a population of nearly 33,000 residents. The city is well positioned, at the junction of Interstate 90 and Interstate 290. Adjacent communities include Schaumburg to the west, Arlington Heights and Mount Prospect to the northeast, Des Plaines to the east, and Itasca and Wood Dale to the South.
The city is home to the largest consolidated industrial park in the country, and is located in proximity to O’Hare International Airport, which is a great advantage to local or locally based businesses, which range in activity from manufacturing to technology, retail, health care, warehousing, and logistics.
Elk Grove Village, IL Office Inventory Description
As of mid-2017, the Elk Grove Village office market encompassed nearly 1.3 million square feet of space in properties larger than 50,000 square feet. The city is home to the largest contiguous industrial park in the country and is an integral part of the regional economy that yields a gross metropolitan product of nearly $480 billion annually.
Although most of the commercial real estate in Elk Grove Village is industrial, the demand for office space is consistent. Nearly 70% of local office space is Class B product, and Class A office accounts for the remaining 30% of inventory.
Most of the larger office buildings in Elk Grove Village are located along the I-90. Notable properties in town include the American Academy of Pediatrics Headquarters, and the MC Machinery corporate headquarters building.
Elk Grove Village, IL Commercial Inventory Breakdown
Office Spaces
Total: 1,377,500 SF
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 |
| 917 West 18th Street | 917 West 18th Street, 60608 | 44,000 | 2017 |
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 |
| 917 West 18th Street | 917 West 18th Street, 60608 | 44,000 | 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 |
Elk Grove Village, IL Green Office Space
Both tenants and investors all over the country have long begun to realize the benefits of opting for green, energy efficient office space. Since 2005, the percentage of green office buildings has increased from below 5% to nearly 40%, according to the National Green Building Adoption Index of 2017. This survey looked at the top 30 office markets in the U.S. and found that adoption of green building practices, be it according to LEED certifications, EPA Energy Star ratings, or other programs, has increased seven-fold. The City of Chicago ranked #1 for its progress in this respect.
In 2010, Elk Grove Village became the first municipality in Illinois to obtain a LEED Gold certification for a newly constructed village hall or public safety building, for its main municipal building. Designed by an Illinois-based architect, the structure sports a living roof spanning 30,000 square feet, which is filled with plants that absorb rain and provide insulation. 90% of the construction debris was separated and recycled during building. Moreover, 70% of the new material employed in the project was sourced from within 500 miles of the work site.
Elk Grove Village, IL's Top Office-Using Sectors
Demand on the Elk Grove Village office market is driven by enterprises and institutions operating in sectors that include data processing, manufacturing and distribution, and healthcare.
- Data Processing – Automatic Data Processing, Inc. and R.R. Donnelley & Sons Company are two of the largest white-collar employers in town;
- Manufacturing and Distribution – Illinois Tool Works, Symons, Pepsi Cola Distribution, and Metal Impact, LLC are some of the larger manufacturing and distribution companies operating in the city;
- Healthcare – Alexian Brothers Medical Center is the largest local employer in this office-using sector;
- Corporate Office – Topco, LA-CO Industries, and the American Academy of Pediatrics are all headquartered here.
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
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...
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