2023 Office Space Rent & Sales
- $28.83 2023 Avg. Asking Rent
- 2.03% Y-o-Y Avg. Asking Rent Change
- 18.35% 2023 Office Vacancy Rate
Deerfield office price per square foot in 2023 was $28.83 on average. This marked a +2.03% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.35% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Illinois Class A & A+ Office Space$33.01
- Illinois Class B Office Space$25.97
- Illinois Class C Office Space$28.31
Deerfield, IL Office Asking Rents by Class
2023 Office Vacancy Rates in Deerfield
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
North Shore - South | $29.26 | 21.45% |
North Shore - North | $21.33 | 25.81% |
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Office building | Address | SF | Completed |
---|---|---|---|
Ten Parkway Boulevard North | 10 Parkway N, 60015 | 49,194 | 2000 |
Bannockburn Corporate Center | 3000 Lakeside Drive, 60015 | 209,225 | 1999 |
Deer Park Business Centre | 750 Estate Drive, 60015 | 26,367 | 1999 |
4 Parkway North | 4 Parkway North, 60015 | 188,987 | 1998 |
1650 Lake Cook Road | 1650 Lake Cook Road, 60015 | 125,690 | 1998 |
1500 Lakeside Drive | 1500 Lakeside Drive, 60015 | 41,426 | 1998 |
1000 Lakeside Drive | 1000 Lakeside Drive, 60015 | 56,732 | 1996 |
1000 Lakeside Drive | 1000 Lakeside Drive, 60015 | 56,732 | 1996 |
Corporate 500 Center | 540 Lake Cook Road, 60015 | 182,500 | 1990 |
Corporate 500 Center | 520 Lake Cook Road, 60015 | 182,500 | 1990 |
Worth noting among recent office completions on the Deerfield market is Ten Parkway Boulevard North, which is currently the largest new office development in the city, at 49,194 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Deerfield commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.