Twelve01West — Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Chicago, IL 60607

Description

Market Context

This office in Chicago, IL is listed for lease. It has been on the market for 2 days. Compare it against other office listings for lease in Chicago, 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

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

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

Explore this market

Similar Office for Lease in Chicago, IL