See current (Q2 2016) Chicago office market statistics, including inventory, absorption, vacancy, average asking rents and construction. We analyze Class A and B space, as well as averages, across all of Chicago and in submarkets including the CBD, River North, West Loop, O'Hare, North Lake County and more.

1. Office Statistics
Chicago | Q2 2016
Class Inventory (s.f.)
Total net
absorption (s.f.)
YTD total net
absorption (s.f.)
YTD total net
absorption (%
of stock)
Direct vacancy
(%)
Total vacancy
(%)
Average direct
asking rent ($
p.s.f.)
YTD
completions
(s.f.)
Under
construction
(s.f.)
West Loop Totals 46,310,916 20,014 354,769 0.8% 10.1% 11.0% $39.17 0 3,559,664
Central Loop Totals 37,160,358 95,730 437,234 1.2% 9.8% 10.8% $36.19 0 0
East Loop Totals 24,346,395 177,780 610,444 2.5% 12.2% 12.5% $35.02 0 0
South Loop Totals 1,264,787 5,840 5,840 0.5% 13.2% 13.2% $25.29 0 0
North Michigan Avenue Totals 11,392,541 177,587 234,162 2.1% 12.2% 13.2% $37.13 0 0
River North Totals 11,995,472 48,152 374,508 3.1% 6.5% 6.9% $41.52 0 0
Kennedy West Totals 5,227,866 15,920 -29,361 -0.6% 9.6% 10.6% $31.64 0 981,000
Far West Loop Totals 1,709,818 2,507 23,257 1.4% 11.0% 11.1% $28.76 0 0
Fulton Market Totals 2,871,567 6,825 -59,720 -2.1% 9.0% 10.9% $33.43 0 981,000
River West Totals 646,481 6,588 7,102 1.1% 8.4% 8.4% $31.48 0 0
CBD Totals 137,698,335 535,183 1,981,756 1.4% 10.2% 11.0% $37.15 0 4,540,664
Eastern East-West Totals 22,529,818 66,631 208,231 0.9% 15.0% 17.2% $24.46 0 0
Western East-West Totals 14,440,382 -53,391 39,141 0.3% 15.8% 18.0% $23.05 0 0
North (Cook County) Totals 10,773,341 -14,242 26,591 0.2% 12.6% 12.8% $26.35 0 0
North (Lake County) Totals 14,176,664 -8,520 19,432 0.1% 22.2% 23.7% $24.49 0 0
O'Hare Totals 11,990,952 33,837 116,290 1.0% 16.7% 17.2% $24.21 0 0
Northwest Totals 22,909,963 -30,073 -61,524 -0.3% 20.0% 21.3% $21.37 0 1,111,000
Suburbs Totals 96,821,120 -5,758 348,161 0.4% 17.3% 18.7% $23.52 0 1,111,000
Chicago Totals 234,519,455 529,425 2,329,917 1.0% 13.2% 14.2% $29.76 0 5,651,664
West Loop A 29,661,434 61,866 313,775 1.1% 9.6% 10.6% $41.80 0 3,559,664
Central Loop A 10,191,682 58,050 126,085 1.2% 9.1% 10.8% $40.34 0 0
East Loop A 5,511,381 8,639 291,662 5.3% 6.1% 6.2% $43.24 0 0
North Michigan Avenue A 2,871,938 50,188 79,844 2.8% 8.2% 8.2% $38.14 0 0
River North A 3,869,920 47,969 169,106 4.4% 3.7% 3.7% $47.94 0 0
Kennedy West A 1,072,473 10,009 3,810 0.4% 2.3% 7.0% $31.97 0 0
Far West Loop A 35,462 0 21,959 61.9% 0.0% 0.0% $32.00 0 0
Fulton Market A 852,011 3,701 -24,457 -2.9% 1.3% 7.2% $36.00 0 846,000
River West A 185,000 6,308 6,308 3.4% 7.2% 7.2% $30.00 0 0
CBD A 53,178,828 236,721 984,282 1.9% 8.5% 9.5% $41.57 0 4,405,664
Eastern East-West A 9,825,292 7,840 -52,363 -0.5% 12.6% 15.4% $28.11 0 0
Western East-West A 5,534,716 35,127 23,024 0.4% 17.2% 20.4% $26.66 0 0
North (Cook County) A 5,446,551 16,901 49,093 0.9% 15.4% 15.7% $28.14 0 0
North (Lake County) A 10,984,748 -3,666 -214,875 -2.0% 22.0% 23.5% $25.16 0 0
O'Hare A 6,732,939 12,093 24,645 0.4% 13.0% 13.8% $28.10 0 0
Northwest A 12,463,652 168,990 153,163 1.2% 10.2% 11.4% $23.74 0 1,111,000
Suburbs A 50,987,898 237,285 -17,313 0.0% 14.9% 16.5% $26.33 0 1,111,000
Chicago A 104,166,726 474,006 966,969 0.9% 11.6% 12.9% $32.01 0 5,516,664
West Loop B 14,142,482 -31,580 -16,383 -0.1% 12.0% 12.6% $34.76 0 0
Central Loop B 22,670,390 24,701 295,331 1.3% 10.2% 10.9% $34.74 0 0
East Loop B 12,342,590 148,686 226,618 1.8% 15.0% 15.4% $34.13 0 0
North Michigan Avenue B 5,946,800 109,175 119,991 2.0% 14.5% 16.4% $38.26 0 0
River North B 6,069,915 26,328 146,135 2.4% 8.6% 9.0% $41.06 0 0
Kennedy West B 3,118,569 3,588 -40,247 -1.3% 11.2% 11.5% $31.68 0 0
Far West Loop B 1,230,612 1,514 -1,908 -0.2% 8.3% 8.5% $27.85 0 0
Fulton Market B 1,517,292 1,794 -39,133 -2.6% 15.8% 16.1% $33.54 0 135,000
River West B 370,665 280 794 0.2% 2.5% 2.5% $20.00 0 0
CBD B 64,290,746 280,898 731,445 1.1% 11.8% 12.5% $35.15 0 135,000
Eastern East-West B 10,355,311 42,968 228,834 2.2% 17.1% 19.1% $20.43 0 0
Western East-West B 7,874,435 -88,772 9,573 0.1% 15.3% 17.1% $20.47 0 0
North (Cook County) B 4,513,183 -41,478 -37,391 -0.8% 10.8% 10.9% $23.92 0 0
North (Lake County) B 3,149,916 -4,854 234,307 7.4% 22.9% 24.9% $22.96 0 0
O'Hare B 4,170,575 14,764 84,665 2.0% 22.5% 22.6% $21.59 0 0
Northwest B 8,589,324 -201,296 -247,052 -2.9% 33.8% 35.2% $21.12 0 0
Suburbs B 38,652,744 -278,668 272,936 0.7% 20.8% 22.2% $21.36 0 0
Chicago B 102,943,490 2,230 1,004,381 1.0% 15.2% 16.1% $28.06 0 135,000
200 E Randolph Street Chicago, IL 60601 tel +1 312 228 3189 hailey.harrington@am.jll.com
2016 Jones Lang LaSalle IP, Inc. All rights reserved.
Hailey Harrington Senior Research Analyst

2. Chicago | Q2 2016
Class Inventory (s.f.)
Total net
absorption (s.f.)
YTD total net
absorption (s.f.)
YTD total net
absorption (%
of stock)
Direct vacancy
(%)
Total vacancy
(%)
Average direct
asking rent ($
p.s.f.)
YTD
completions
(s.f.)
Under
construction
(s.f.)
West Loop C 2,507,000 -10,272 57,377 2.3% 4.9% 6.5% $31.50 0 0
Central Loop C 4,298,286 12,979 15,818 0.4% 9.4% 10.3% $30.62 0 0
East Loop C 6,492,424 20,455 92,164 1.4% 12.2% 12.4% $29.88 0 0
South Loop C 1,264,787 5,840 5,840 0.5% 13.2% 13.2% $25.29 0 0
North Michigan Avenue C 2,573,803 18,224 34,327 1.3% 11.3% 11.3% $30.51 0 0
River North C 2,055,637 -26,145 59,267 2.9% 5.5% 6.6% $29.17 0 0
Kennedy West C 1,036,824 2,323 7,076 0.7% 11.9% 11.9% $31.33 0 0
Far West Loop C 443,744 993 3,206 0.7% 19.3% 19.3% $29.45 0 0
Fulton Market C 502,264 1,330 3,870 0.8% 1.2% 1.2% $32.10 0 0
River West C 90,816 0 0 0.0% 35.2% 35.2% $32.42 0 0
CBD C 20,228,761 17,564 266,029 1.3% 9.9% 10.5% $29.69 0 0
Eastern East-West C 2,349,215 15,823 31,760 1.4% 15.7% 16.3% $15.87 0 0
Western East-West C 1,031,231 254 6,544 0.6% 12.0% 12.0% $16.01 0 0
North (Cook County) C 813,607 10,335 14,889 1.8% 4.3% 4.3% $17.86 0 0
North (Lake County) C 42,000 0 0 0.0% 0.0% 0.0% N/A 0 0
O'Hare C 1,087,438 6,980 6,980 0.6% 17.1% 17.1% $14.61 0 0
Northwest C 1,856,987 2,233 32,365 1.7% 22.0% 23.2% $17.44 0 0
Suburbs C 7,180,478 35,625 92,538 1.3% 15.6% 16.1% $16.54 0 0
Chicago C 27,409,239 53,189 358,567 1.3% 11.4% 12.0% $24.97 0 0
Hailey Harrington Senior Research Analyst
200 E Randolph Street Chicago, IL 60601 tel +1 312 228 3189 hailey.harrington@am.jll.com
2016 Jones Lang LaSalle IP, Inc. All rights reserved.