Chicago Industrial Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Newmark, Cushman & Wakefield, Avisonyoung Us, CBRE, Savills Us, En Savills Nl, Savills Com Sg, Savills, Matthews, Lee Associates
Quarterly industrial market indicators for Chicago, aggregated by PropZone from Newmark, Cushman & Wakefield, Avisonyoung Us, CBRE, Savills Us, En Savills Nl, Savills Com Sg, Savills, Matthews, Lee Associates. As of Q1 2026, average asking rent was $6.80/SF with a 5.3% vacancy rate.
Projected current industrial pricing — Chicago
low confidenceModeled 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 Newmark data (cap rate 8.1%, asking rent trend-adjusted to today). Assumes ~95% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $6.80/SF | 5.3% | — | — | Newmark |
| Q1 2026 | — | 3.5% | 0K SF | — | Cushman & Wakefield |
| Q1 2026 | — | 2.0% | 0K SF | — | Avisonyoung Us |
| Q1 2026 | $9.03/SF | 8.6% | — | — | CBRE |
| Q4 2025 | $8.64/SF | 8.9% | — | — | CBRE |
| Q4 2025 | — | 7.6% | 7.3M SF | — | Savills Us |
| Q4 2025 | — | 7.6% | 7.3M SF | — | En Savills Nl |
| Q4 2025 | — | 7.6% | 7.3M SF | — | Savills Com Sg |
| Q4 2025 | — | 7.6% | 7.3M SF | — | Savills |
| Q4 2025 | — | 1.1% | 0K SF | — | Cushman & Wakefield |
| Q4 2025 | $9.92/SF | 5.5% | 3.8M SF | — | Matthews |
| Q3 2025 | $6.46/SF | — | — | — | Newmark |
| Q3 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q2 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q1 2025 | $0.02/SF | — | — | — | Newmark |
| Q1 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q2 2024 | $6.52/SF | — | — | — | Newmark |
| Q1 2024 | $6.44/SF | — | — | — | Newmark |
| Q3 2023 | $15.61/SF | 4.3% | 0K SF | — | CBRE |
| Q3 2023 | $5.86/SF | 4.9% | 350K SF | — | Cushman & Wakefield |
| Q3 2023 | $6.27/SF | — | — | — | Newmark |
| Q4 2020 | — | — | 0K SF | — | Cushman & Wakefield |
| Q3 2020 | — | 5.2% | 382K SF | — | Lee Associates |
| Q3 2020 | — | 4.9% | 0K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for industrial space in Chicago?
- As of Q1 2026, the average asking rent for industrial space in Chicago was $6.80/SF, per Newmark.
- What is the industrial vacancy rate in Chicago?
- The industrial vacancy rate in Chicago was 5.3% as of Q1 2026 (Newmark).
- Where does PropZone's Chicago market data come from?
- This report aggregates quarterly industrial market data for Chicago from Newmark, Cushman & Wakefield, Avisonyoung Us, CBRE, Savills Us, En Savills Nl, Savills Com Sg, Savills, Matthews, Lee Associates.