What is the typical cap rate for office in Chicago?

About 9.8% as of Q1 2026, per multiple brokerages.

Is the Chicago office market tightening or softening?

Vacancy is around 26.9%, with asking rents rising year over year (Q1 2026).

Office

Westings Corporate Center

westings corporate center, naperville, IL 60563

Price

Price on request

Description

Explore the height of office luxury at 2056 Westings. Take your pick from a selection of 10 spacious and versatile office spaces available for lease within our impressive 180,000 SF building. Indulge in state-of-the-art amenities that include high-speed internet, contemporary conference rooms, and top-notch security systems. Additionally, we have recently introduced 15,000 SF of Spec Suites, a revamped fitness center, and an upgraded food service area. Join a thriving community of vibrant businesses and unlock endless opportunities for growth and success.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

westings corporate center, naperville, IL 60563

Leaflet © OpenStreetMap contributors

Market Context

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: multiple brokerages Q1 2026 market report.

Projected current pricing

high confidence

Projected asking rent

$45.41–$45.98/SF/yr

Estimated sale value

$169–$223/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 9.8%, asking rent trend-adjusted to today).

View the full Chicago Office market report →

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Compare it against other office listings for sale in Naperville, IL to benchmark pricing and space — view the full market.

Office market FAQ

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