2023 Office Space Rent & Sales
- $19.60 2023 Avg. Asking Rent
- 37.96% 2023 Office Vacancy Rate
Vernon Hills office price per square foot in 2023 was $19.60 on average. The local office market recorded an average vacancy rate of 37.96% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Vernon Hills Class B Office Space$19.60
- Illinois Class A & A+ Office Space$33.01
- Illinois Class B Office Space$25.97
- Illinois Class C Office Space$28.31
Vernon Hills, IL Office Asking Rents by Class
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Office building | Address | SF | Completed |
---|---|---|---|
850-870 N Milwaukee Rd. Vernon Hills, 60061 | 850-870 N Milwaukee Rd, 60061 | 48,942 | 2016 |
Continental Executive Parke | 400 N Lakeview Pky, 60061 | 46,386 | 2000 |
400 Lakeview Parkway | 400 Lakeview Pkwy, 60061 | 44,336 | 1999 |
400 Lakeview Pkwy | 400 Lakeview Pkwy, 60061 | 44,336 | 1999 |
Hawthorn Business Park - 3 Hawthorn Pkwy | 3 Hawthorn Pkwy, 60061 | 85,687 | 1990 |
One Hawthorn Place | 175 East Hawthorn Pkwy, 60061 | 84,779 | 1986 |
401 W. Sullivan Drive | 401 W. Sullivan Drive, 60061 | 11,762 | 1985 |
Worth noting among recent office completions on the Vernon Hills market is 850-870 N Milwaukee Rd. Vernon Hills, 60061, which is currently the largest new office development in the city, at 48,942 square feet.
See reports for other markets
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Vernon Hills 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.