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United States | Chicago, IL

Report | Chicago Suburbs Office Insight - Q2 2016


Despite perceptions to the contrary, we see many suburban tenants continuing to expand and seek new amenity-rich properties within the Chicago suburban footprint. Recently, telecom giant Verizon moved from its 125,000 square foot location in Elgin to a new 160,000 square foot space in Rolling Meadows. 

We found that companies can save more than $15.00 per square foot on average (Q2 2016) for Class A space in Chicago’s suburbs compared to the CBD.

A broader tenant shift towards Class A space has brought opportunities within the existing Class B suburban market, especially in the Northwest submarket. As of Q2 2016, the Class B vacancy rate in Northwest now exceeds 35 percent.

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