Downers Grove Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $29.68 2023 Avg. Asking Rent
  • 0.56% Y-o-Y Avg. Asking Rent Change
  • 24.36% 2023 Office Vacancy Rate

Downers Grove office price per square foot in 2023 was $29.68 on average. This marked a +0.56% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 24.36% 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

Downers Grove, IL Office Asking Rents by Class

2023 Office Vacancy Rates in Downers Grove

Submarket Asking Rents Vacancy Rates
Eastern East-West Corridor $28.92 20.28%
Western East-West Corridor $23.11 21.08%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Downers Grove market was 24.36% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Downers Grove was 20.28% in the Eastern East-West Corridor submarket, while the highest office vacancy in the market was 21.08%, recorded in Western East-West Corridor.

Office Spaces for Rent in Illinois

Coworking Spaces in Illinois

Largest Office Properties Recently Completed in Downers Grove
Office building Address SF Completed
Highland Landmark IV 3050 Highland Parkway, 60515 260,852 2002
Esplanade V 3250 Lacey Road, 60515 163,624 2002
Esplanade IV 1901 Butterfield Road, 60515 278,285 1999
Corridors II 2655 Warrenville Road, 60515 149,896 1999
Highland Landmark II 3025 Highland Pkwy, 60515 277,814 1998
Finley Point 3333 Finley Road , 60515 223,771 1998
Esplanade at Locust Point II 3500 Lacey Road, 60515 584,000 1992
Esplanade R&D 3131 Woodcreek Drive, 60515 72,929 1991
Esplanade I 2001 Butterfield Road, 60515 536,322 1990
6900-6912 Main Street 6900-6912 Main Street, 60516 48,288 1985

Worth noting among recent office completions on the Downers Grove market is Highland Landmark IV, which is currently the largest new office development in the city, at 260,852 square feet.

Data provided by Commercial Edge

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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 Downers Grove 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.