chicago Retail Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Matthews, Marcus & Millichap, JLL
Quarterly retail market indicators for chicago, aggregated by CREhunt from Matthews, Marcus & Millichap, JLL. As of Q1 2026, average asking rent was $22.27/SF/yr and vacancy was 4.9%, per Matthews.
Projected current retail pricing — chicago
Projected asking rent
$22.27–$22.49/SF/yr
Estimated sale value
$168–$214/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Matthews data (cap rate 8.2%, asking rent trend-adjusted to today). Assumes ~95% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Matthews | $22.27/SF/yr | 4.9% | — | — | Matthews |
| Q4 2025 Matthews | $22.30/SF/yr | 4.8% | 1.2M SF | — | Matthews |
| Q4 2025 Marcus & Millichap | $19.43/SF/yr | 5.1% | 1.4M SF | — | Marcus & Millichap |
| Q2 2025 JLL | $22.01/SF/yr | 4.9% | -1.7M SF | — | JLL |
Frequently asked questions
- What is the average asking rent for retail space in chicago?
- As of Q1 2026, the average asking rent for retail space in chicago was $22.27/SF/yr, per Matthews.
- What is the retail vacancy rate in chicago?
- The retail vacancy rate in chicago was 4.9% as of Q1 2026 (Matthews).
- Where does CREhunt's chicago market data come from?
- This report aggregates quarterly retail market data for chicago from Matthews, Marcus & Millichap, JLL.
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