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The RENT blog gives you the resources and tools you need to make the best decisions regarding your real estate needs.  We cover a broad range of subjects regarding office space, tenant needs and what to look for when investing in property.

STILL A TENANT’S MARKET, BUT OFFICE RENTS ARE INCREASING

STILL A TENANT’S MARKET, BUT OFFICE RENTS ARE INCREASING

In the western suburbs of Chicago, office tenants still call the shots.  However, there are signs that these good times are coming to an end.

Copied below are the rent changes I’ve seen in Q1 2015 in the western suburban office market.

It’s still a tenant’s market, but office rents are increasing in some key properties.

Please let me know if I can answer any questions about the local office market.  I help businesses find commercial office space and negotiate commercial lease and purchase agreements.  You can reach me at troy@goldengroupcre.com or (630) 805-2463.

 

AddressCityDateNew Rate*Previous Rate*1400/1431/1431 Opus PlDowners Grove 02/24/2015 $15.00/sf n $14.00-13.50/sf n4343 Commerce CtLisle 03/24/2015 $19.50/sf mg $18.50/sf mg2000-2080 Springer DrLombard 01/05/2015 $19.00-$20.00/sf mg $18.50-$19.50/sf mg246 E Janata BlvdLombard 02/04/2015 $13.95/sf mg $15.95/sf mg2200 S Main StLombard 02/05/2015 $10.95/sf mg $11.95/sf mg1910 S Highland AveLombard 03/04/2015 $15.00/sf mg $14.50/sf mg55 Shuman BlvdNaperville 01/12/2015$16.75/sf n$16/sf n280 Shuman BlvdNaperville 02/17/2015 $19.00/sf mg $17.50/sf mg1000-1100 E Warrenville RdNaperville 03/16/2015 $15.50/sf n $14.50/sf n2100 Clearwater DrOak Brook 03/04/2015 $18.00/sf mg $17.00/sf mg600 22nd StOak Brook 03/09/2015 $18.50/sf mg $18.00/sf mg2001/2015/2021 Spring RdOak Brook 01/30/2015 $18.75/sf n $18.00/sf n1-2 Mid America PlazaOakbrook Terrace 01/16/2015 $19.00/sf n $18.50/sf n17W662 Butterfield RdOakbrook Terrace1/20/2015 $17.00/sf mg $17.50/sf mg635 Butterfield RdOakbrook Terrace 02/13/2015 $18.75/sf mg $17.50/sf mg1 Parkview PlzOakbrook Terrace 03/25/2015 $18.00/sf n $17.50/sf n1107 S Mannheim RdWestchester 02/10/2015 $10.00-$14.00/sf mg $8.00/sf mg1 E Oak Hill DrWestmont 03/11/2015 $18.50/sf mg $18.00/sf mg545 Plainfield RdWillowbrook 01/07/2015 $19.00/sf mg $18.50/sf mg625 Plainfield RdWillowbrook 03/06/2015 $15.25/sf mg $14.75/sf mg

*Landlord’s initial asking rent rate for new tenants; “n” = net rate; “mg” = modified gross

Golden Group Real Estate represents tenants looking for office space in the western suburbs of Chicago.  Contact us if you are looking for office space for rent in Aurora, Darien, Downers Grove, Glen Ellyn, Hinsdale, Lisle, Lombard, Naperville, Oak Brook, Oakbrook Terrace, Warrenville, Westmont, Westchester, Wheaton, or Woodridge.  You can reach us at troy@goldengroupcre.com or (630) 805-2463.

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