Office for Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Chicago, IL 60617
  • Year built: 1958

Description

Massive Potential – Flexible Office Space with Extensive Outdoor Parking

Market Context

This office in Chicago, IL is listed for lease. The building dates to 1958. It has been on the market for 20 days. Compare it against other office listings for lease in Chicago, IL — <a href="/search/lease/office/illinois/chicago">view the full market</a>.

As of Q1 2026, the Chicago office market showed a 26.9% vacancy rate, average asking rents near $45.41/SF/yr, rents up 5.2% year over year, and cap rates around 9.8%. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Office market FAQ

What is the typical cap rate for office in Chicago?
About 9.8% as of Q1 2026, per Consensus.
Is the Chicago office market tightening or softening?
Vacancy is around 26.9%, with asking rents rising year over year (Q1 2026).

Unified Estimate

Very Low Confidence

$6.62/SF/mo – $8.95/SF/mo

Mid: $7.78/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market jacksonville (similarity: 100%) with 16 comparable listings.

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