Figures

Chicago Industrial Figures Q2 2026

July 9, 2026 10 Minute Read

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  • Chicago’s industrial availability rate decreased to 8.6% in Q2 2026, down 30 basis points (bps) quarter-over-quarter and down 20 bps year-over-year.

 

  • Net average asking rents increased to $9.30 per sq. ft. in Q2 2026, up 3.0% quarter-over-quarter and 7.4% year-over-year, continuing the market’s steady rent growth trajectory.

 

  • Net absorption experienced a sharp increase in Q2 2026, totaling 6.1 million sq. ft., up from 1.1 million sq. ft. in Q1 2026.

 

  • Construction activity remained active, with 11.8 million sq. ft. under construction and 2.6 million sq. ft. delivered in Q2 2026. Development was evenly split between speculative and build-to-suit projects, each accounting for 50% of the pipeline.

 

  • Leasing activity totaled 15.4 million sq. ft., representing a 5.0% increase year-over-year. New leasing accounted for the majority ofactivity with 141 new leases, while 44 renewals totaled 4.05 million sq. ft., representing 26.3% of overall leasing volume.