Chicago Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Newmark, CBRE, Cushman & Wakefield, Colliers, JLL, Savills, Avison Young, Matthews, Lee & Associates
Quarterly industrial market indicators for Chicago, aggregated by CREhunt from Newmark, CBRE, Cushman & Wakefield, Colliers, JLL, Savills, Avison Young, Matthews, Lee & Associates. As of Q2 2026, vacancy was 5.1%, per Newmark.
Projected current industrial pricing — Chicago
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 CBRE data (cap rate 6.7%, asking rent trend-adjusted to today). Assumes ~94% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Newmark | — | 5.1% | 4.9M SF | — | Newmark |
| Q2 2026 CBRE | $9.33/SF/yr | 5.6% | 2K SF | — | CBRE |
| Q1 2026 CBRE | $9.03/SF/yr | — | — | — | CBRE |
| Q1 2026 Cushman & Wakefield | $7.40/SF/yr | 4.8% | 1.1M SF | — | Cushman & Wakefield |
| Q1 2026 Colliers | $7.65/SF/yr | 5.3% | 5.6M SF | — | Colliers |
| Q1 2026 JLL | $7.85/SF/yr | 4.7% | 7.2M SF | — | JLL |
| Q1 2026 Savills | — | 7.2% | — | — | Savills |
| Q1 2026 Newmark | $6.80/SF/yr | 5.3% | 1.7M SF | — | Newmark |
| Q1 2026 Avison Young | $9.21/SF/yr | 6.1% | 2.1M SF | — | Avison Young |
| Q4 2025 Cushman & Wakefield | $7.16/SF/yr | 4.7% | — | — | Cushman & Wakefield |
| Q4 2025 Matthews | $9.92/SF/yr | 5.5% | 3.8M SF | — | Matthews |
| Q4 2025 Newmark | $6.57/SF/yr | 5.2% | 5.2M SF | — | Newmark |
| Q4 2025 Savills | — | 7.6% | 7.3M SF | — | Savills |
| Q4 2025 CBRE | $8.64/SF/yr | 8.9% | — | — | CBRE |
| Q3 2025 Cushman & Wakefield | $7.36/SF/yr | 4.7% | — | — | Cushman & Wakefield |
| Q3 2025 Newmark | $6.46/SF/yr | 5.5% | 1.8M SF | — | Newmark |
| Q2 2025 Avison Young | — | 6.3% | 1.8M SF | — | Avison Young |
| Q2 2025 Savills | — | 7.7% | — | — | Savills |
| Q2 2025 Cushman & Wakefield | $7.52/SF/yr | 4.8% | — | — | Cushman & Wakefield |
| Q2 2025 Newmark | $6.59/SF/yr | 5.3% | -326K SF | — | Newmark |
| Q1 2025 Cushman & Wakefield | $7.72/SF/yr | 4.7% | — | — | Cushman & Wakefield |
| Q1 2025 Newmark | — | 5.1% | 437K SF | — | Newmark |
| Q4 2024 Newmark | $6.47/SF/yr | 4.8% | 132K SF | — | Newmark |
| Q3 2024 Lee & Associates | $14.26/SF/yr | 7.8% | -3.2M SF | — | Lee & Associates |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Chicago industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Central DuPage | $10.80/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Chicago North | $8.44/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Chicago South | $8.50/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Interstate 39 Corridor | $6.77/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Interstate 55 Corridor | $11.29/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Interstate 80 Corridor | $6.29/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Lake County | $6.78/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| McHenry County | $5.50/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Northeast DuPage | $9.34/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Northern Cook County | $7.07/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Northern Fox Valley | $7.03/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Northwest Cook County | $9.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Northwest Indiana | $7.10/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| O'Hare | $10.50/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| South Suburbs | $6.81/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Southeast Wisconsin | $4.96/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Southern DuPage | $12.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Southern Fox Valley | $5.25/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Western Cook County | $6.67/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Western Kane County | $5.88/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Chicago industrial did not fully agree. On vacancy, the sources span 0.5 points — from 5.1% (Newmark) to 5.6% (CBRE). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Newmark | 5.1% | — | 6.7% |
| CBRE | 5.6% | $9.33/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Chicago?
- CREhunt aggregates industrial asking-rent data for Chicago from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the industrial vacancy rate in Chicago?
- The industrial vacancy rate in Chicago was 5.1% as of Q2 2026 (Newmark).
- Where does CREhunt's Chicago market data come from?
- This report aggregates quarterly industrial market data for Chicago from Newmark, CBRE, Cushman & Wakefield, Colliers, JLL, Savills, Avison Young, Matthews, Lee & Associates.
- How much do brokerage estimates differ for industrial space in Chicago?
- For Q2 2026, the brokerage sources CREhunt aggregates for Chicago did not fully agree. On vacancy, the sources span 0.5 points — from 5.1% (Newmark) to 5.6% (CBRE). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.