Chicago, a global hub for commerce, technology, and culture, offers a unique blend of amenities, infrastructure, and geography that makes it an attractive location for businesses seeking office space for lease. With its diverse economy, no single industry dominates the workforce, and the city boasts a strong presence of major corporations, including Boeing, Abbott Laboratories, and McDonald's. The city's infrastructure is well-equipped to support businesses, with key components like Commonwealth Edison (ComEd) for electricity, Peoples Gas for natural gas, and the Chicago Transit Authority (CTA) for public transportation. Additionally, Chicago's major transportation facilities, including O'Hare International Airport and Midway International Airport, provide connections to various domestic and international destinations. The city's comprehensive transit system, including the CTA and Metra, offers an extensive network of buses and rapid transit lines, making it easy to navigate the city.
With 500 office spaces for lease available, Chicago offers a range of options for businesses of all sizes. The average annual rent per square foot is $28 USD, and the average size of available office spaces is 11,727 square feet, with a maximum space size of 359,527 square feet. In addition to office spaces, Chicago also offers a range of other property types, including coworking spaces, flex spaces, medical offices, and retail spaces. Coworking spaces in Chicago offer a flexible and collaborative work environment, while flex spaces provide a unique blend of office and warehouse space. Medical offices in Chicago are well-equipped to support the city's healthcare infrastructure, and retail spaces offer a range of opportunities for businesses seeking to connect with customers. Overall, Chicago's diverse range of property types and office spaces for lease make it an attractive location for businesses seeking to establish or expand their operations.
What is the average size of office space for lease in the Chicago market?
The average size of office space for lease in the Chicago market is 11,727 square feet, with a total of 500 available listings, and an average annual rent of $28 USD per square foot, ranging from smaller spaces to maximum sizes of 359,527 square feet.
Are there different types of office space leases available?
In Chicago, there are various types of office space leases available to suit different business needs, including:
- Full-service leases, which typically include utilities, maintenance, and amenities in the rent;
- Modified gross leases, which combine base rent with a portion of operating expenses;
- Triple net leases, where tenants pay base rent plus all operating expenses, property taxes, and insurance.
With 500 available listings of office space in Chicago, businesses can find the perfect lease option to fit their budget and requirements, with average annual rent per square foot at $28 USD and average space size of 11,727 square feet, ranging up to 359,527 square feet.
