chicago downtown Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from JLL
Quarterly office market indicators for chicago downtown, aggregated by CREhunt from JLL. As of Q1 2026, average asking rent was $46.56/SF/yr and vacancy was 25.3%, per JLL.
Projected current office pricing — chicago downtown
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for chicago downtown office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 JLL asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~75% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 JLL | $46.56/SF/yr | 25.3% | -32K SF | — | JLL |
Frequently asked questions
- What is the average asking rent for office space in chicago downtown?
- As of Q1 2026, the average asking rent for office space in chicago downtown was $46.56/SF/yr, per JLL.
- What is the office vacancy rate in chicago downtown?
- The office vacancy rate in chicago downtown was 25.3% as of Q1 2026 (JLL).
- Where does CREhunt's chicago downtown market data come from?
- This report aggregates quarterly office market data for chicago downtown from JLL.