One Rotary Center — Lease in Evanston, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Evanston, IL 60201
  • Size: 368,665 SF

Description

Market Context

This office in Evanston, IL is listed for lease across 368,665 SF. It has been on the market for 113 days. Compare it against other office listings for lease in Evanston, IL — view the full market.

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 brokerage reports, Q1 2026.

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 multiple brokerage reports.
Is the Chicago office market tightening or softening?
Vacancy is around 26.9%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$5.65/SF/mo – $7.64/SF/mo

Mid: $6.64/SF/mo

Estimated total for 368,665 SF: $2,447,936 per month

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

Based on comparable properties in similar markets rather than local sales.

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