Figures

Chicago Suburban Office Figures Q1 2026

April 9, 2026 10 Minute Read

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  • The Chicago suburbs closed Q1 2026 with negative 430,887 square feet (sq. ft.) of net absorption, down an additional 237,605 sq. ft. from last quarter. Significant Q1 tenant move ins included IMRF occupying 70,000 sq. ft. at 800 Commerce Dr and Sasser occupying 64,883 sq. ft. at 700 Commerce Drive. Notable move-outs included Essendant vacating 271,178 sq. ft. at 1 Parkway North Blvd and Dairy Management vacating 89,023 sq. ft. at 10255 W Higgins Rd.

 

  • In Q1 2026, total leasing volume was 636,392 sq. ft., with the average deal size of 25,456sq. ft. in line with the rolling four-quarter average of 25,336 sq. ft. The largest deal of the quarter was a new leased signed by Inland Real Estate Group for 140,000 sq. ft. at 3050 Highland Pkwy.

 

  • In Q1 2026, direct vacancy increased by 80 basis points (bps) quarter-over-quarter from 27.8% to 28.7%, driven primarily by newly vacant availabilities coming to the market faster than tenant demand.

 

  • Asking rates slightly decreased by 1.1% from $26.22 per sq. ft. to $25.92 per sq. ft.